MIAMI BEACH, FLA. — Starwood Real Estate Income Trust Inc. (Starwood REIT) has acquired a 15,460-unit multifamily portfolio from Strata Equity Group for an undisclosed price. Scott Wittman and Andrew Gordon of Strata Equity were responsible for the structuring and execution of the transaction.
The portfolio includes 62 communities located across 10 states — primarily in the Southeast states of Georgia, Tennessee and North Carolina. The portfolio’s units are priced affordably with high-quality amenities, according to Starwood REIT. The Miami Beach-based firm will retain Strata Equity to manage the portfolio under terms of the transaction.
As of Sept. 30, Starwood REIT’s portfolio had a total asset value of $12.6 billion across 246 properties. Starwood Capital Group manages Starwood REIT via a subsidiary doing business as Starwood REIT Advisors LLC.
Strata Equity Group is a San Diego-based, privately held real estate investment and management company. The firm has sold in excess of $4 billion worth of multifamily assets this year through multiple transactions.