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Sign in Sign up for a FREE subscriptionStarwood pays $345m for affordable housing portfolio
ReNUE Properties has sold its affordable housing portfolio to Starwood Real Estate Income Trust for $345 million.
The 1,462-unit portfolio consists of seven assets located in Arizona. The assets in Mesa, Ariz., include the 276-unit Village at Sun Valley, the 174-unit Tierra Antigua and the 264-unit San Fernando. In Phoenix, the assets are the 200-unit Bella Vista and the 200-unit ReNUE Downtown. The last two assets are the 196-unit Desert Eagle in Glendale and the 152-unit Lake Pleasant in Peoria.