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Monday, 11 January 2016 23:00

Starwood Bets $5.4 Billion That Apartment Rents Will Keep Rising

With its $5.4 billion purchase from landlord Equity Residential, Starwood Capital Group is making a big bet on the future of the U.S. apartment market and doing so at a time when both rents and property prices have never been higher.

 

Starwood, led by investor Barry Sternlicht, is adding 23,262 units in 72 multifamily communities across five states, expanding its reach into a part of the real estate market in which rents set records each quarter as young Americans face hurdles buying homes.

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Last modified on Monday, 11 January 2016 23:04