{"id":365523,"date":"2026-08-07T19:04:09","date_gmt":"2026-08-07T19:04:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/365523\/"},"modified":"2026-08-07T19:04:09","modified_gmt":"2026-08-07T19:04:09","slug":"barry-sternlichts-starwood-buys-two-miami-affordable-housing-rentals-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/365523\/","title":{"rendered":"Barry Sternlicht\u2019s Starwood Buys Two Miami Affordable Housing Rentals \u2013 Commercial Observer"},"content":{"rendered":"

Barry Sternlicht\u2019s Starwood Asset Management<\/a> has acquired two affordable housing properties in Miami-Dade County from the Gatehouse Group, paying a combined $63.8 million, property records show.<\/p>\n

In the largest deal, the investor paid $34 million for the 150-unit Magnolia Landing Apartments in the Naranja neighborhood, near the southern end of the county. Built in 2011, the 4.8-acre asset houses 20 three-story buildings at 25881 Southwest 143rd Court, just west of the South Dixie Highway.\u00a0<\/p>\n

SEE ALSO: Tishman Speyer\u2019s 6 Grand Central Hits the Market for Roughly $450M<\/a><\/p>\n

The sale breaks down to roughly $226,660 per unit. CBRE Capital Partners<\/a> provided a $23.8 million Freddie Mac loan.\u00a0<\/p>\n

Across the county in Miami\u2019s Little River neighborhood, Starwood paid $29.75 million for the 160-unit Lafayette Square complex. The 19-story building sits on a 1.2-acre site, a block west from Northeast Second Avenue at 150 Northeast 79th Street.\u00a0<\/p>\n

The deal equates to about $185,900 per apartment. The Gatehouse Group<\/a> appears to have retained ownership of the adjacent 136-unit property.\u00a0<\/p>\n

The Mansfield, Mass.-based firm developed both the Lafayette Square and Magnolia Landing Apartments, completing the former in 2008 and the latter in 2011.\u00a0<\/p>\n

Representatives for Starwood and Gatehouse Group did not immediately respond to a request for comment.\u00a0<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Barry Sternlicht\u2019s Starwood Asset Management has acquired two affordable housing properties in Miami-Dade County from the Gatehouse Group,…\n","protected":false},"author":2,"featured_media":365524,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[148377,148378,148379,8001,20157,148380,148381,123,125,124],"class_list":["post-365523","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-150-northeast-79th-street","tag-25881-southwest-143rd-court","tag-barry-sternlicht","tag-channel","tag-investments-sales","tag-lafayette-square","tag-magnolia-landing-apartments","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/365523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=365523"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/365523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/365524"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=365523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=365523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=365523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}