Greenwich, Conn.-based Starwood Property Trust has picked up four more Orlando area apartment complexes through a 31-property portfolio purchase from a Tampa developer. The purchase consists of four affordable housing communities with a combined 1,326 units for a total of $95 million, or approximately $71,644 per unit. Included in the deal were the 428-unit Willow Lake Apartments at 500 Monica Rose Drive in Apopka ($30.1 million); the 234-unit Westbrook Apartments in Orlando ($17.9 million); the 312-unit Wellesley Apartments on Wellesley Lake Drive in Orlando ($28.3 million); and the 352-unit Windchase Apartments in Sanford which sold for $18.7 million. The deal was concluded following approval by the Florida Housing Finance Corporation.
