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Completed

Starwood Real Estate Income Trust completed the acquisition of Palmer Dadeland from Mill Creek Residential for $387m.

Financials

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Transaction Value£282m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Majority

United States

residential complexes

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Real Estate Holding and Development

Acquisition

Domestic

Single Bidder

Private

Completed

Real Estate

Synopsis

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Starwood Real Estate Income Trust, a real estate investment trust company, completed the acquisition of Palmer Dadeland, an apartment building in the Glenvar Heights, Florida, from Mill Creek Residential, a real estate developer, for $387m. The LEED Silver-certified Palmer Dadeland is located at 8215 and 8217 SW 72nd Ave. and features 844 residential units. The project was initially known as Modern Metro Dadeland and was developed by Mill Creek Residential in 2017 and 2019. The residential community features resort style pools, business center, fitness center, billiards lounge, game room, two rooftop decks and a pet spa.

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