Starwood Capital buys two apartment complexes in North Carolina for $40.7 milion

Starwood Capital Group has completed the acquisition of two residential properties for a combined purchase price of $40.7 million. The two properties, Woodbridge and Hidden Oaks, are located across the street from each other and include a total of 788 units. The deal, which was funded through Starwood Opportunity Fund VIII, was completed in partnership with Somerset Partners. Starwood and Somerset were advised by Brush Island Capital, LLC, while CW Capital helped arrange the financing.