Four Triad apartment communities were sold for more than $121.1 million in a deal between two out-of-state real estate firms. Starwood Capital Group (NYSE: STWD) of Miami Beach bought Eastchester Ridge and Fox Hollow in High Point, Woodland Park in Greensboro and Brandemere in Winston-Salem from Strata Equity Group of San Diego in transactions recorded Thursday in Guilford and Forsyth counties.
Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that it has priced its private offering of $400 million aggregate principal amount of its 3.750% unsecured senior notes due 2024 (the "Notes"). The Notes priced at 100.00% of the principal amount and the settlement of the offering is expected to occur on December 15, 2021, subject to customary closing conditions.
The hope is that the new projects will lure tenants from technology and venture capital businesses, among other lucrative industries.