Starwood Real Estate Income Trust (SREIT) has acquired the Florida Office Portfolio, a class A office portfolio totaling 1.27 million square feet across 11 buildings in Jacksonville, Fla.
The portfolio was acquired through an off-market transaction for a purchase price of approximately $231 million, excluding closing costs.
The portfolio is located within the top-performing Deerwood Park submarket, which commands the highest asking rents and lowest vacancy rate in Jacksonville. Deerwood Park is an attractive destination for employers due its convenient access to both executive and workforce housing and its rich amenity base, anchored by North Florida’s most successful retail complex, St. Johns Town Center.
“The Florida Office Portfolio is another
