Publications

Starwood Real Estate Income Trust acquires mixed-use property in Durham
Transactions - DECEMBER 12, 2019

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Starwood Real Estate Income Trust acquires mixed-use property in Durham

by Andrea Zander

Starwood Real Estate Income Trust (SREIT), a nontraded REIT managed by Starwood Capital Group, has acquired Exchange on Erwin, a class A, high-quality mixed-use property totaling 265 multifamily units and 96,949 square feet of commercial space in Durham, N.C. 

The property was acquired through an off-market transaction for approximately $111 million, excluding closing costs, from an affiliate of Ram Realty Advisors. The multifamily property was recently completed in 2018, and the commercial property, consisting primarily of medical office space, was completed in 2007.

The property benefits from its prime location directly across the street from Duke University, which is the largest employer in the Raleigh-Durham market, with nearly 40,000 employees. This provides its tenants with exceptional access to the University Health System buildings, including its wor

Forgot your username or password?