Starwood Property Trust Pays $563.5M for 31-Property LIHTC Portfolio Spread Across Florida
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The Wilson Company has sold a multifamily portfolio of 31 Low Income Housing Tax Credit (LIHTC) properties spread across Florida to Starwood Property Trust, an affiliate of Starwood Capital Group, for $ 563.5 million, or about $ 66,300 per unit. Heavily concentrated in the Central Florida markets of Orlando and Tampa, the portfolio totals 8,498 units in 31 apartment buildings developed between 1995 and 2004 under Section 42 of the Internal Revenue…
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