Starwood Real Estate Income Trust acquires 15,460-unit multifamily housing portfolio

Starwood Real Estate Income Trust has bought a multifamily housing portfolio of 15,460 units located in 62 communities from Strata Equity Group. Terms of the transaction were not disclosed.

The acquired portfolio is located in 27 markets across 10 states, primarily in the Southeast region of the United States, including Georgia, Tennessee and North Carolina. The portfolio’s markets are experiencing substantial population, employment and income growth, projected to outpace the U.S. average by 2x over the next five years. These markets offer lower taxes and a cost of living below the national averages and continue to benefit from migratory trends toward the Sun Belt and other growth markets. The portfolio’s units offer affordability with high-quality amenities. Strata will remain in an asset management role for the acquired portfolio.