Miami-based Starwood Capital Group and Vancouver, Wash.-based Holland Partner Group formed a joint venture to acquire and develop a multifamily property in San Pedro, Starwood Capital announced May 13.
The project, called 550 Harborfront, is in an opportunity zone. It is expected to be completed in spring 2020. It will have 375 units, a fitness center, lounges and a pool.
"We are excited by the opportunity to develop the first Class A multifamily property in San Pedro since 2008," said David Baker, senior vice president at Starwood Capital, in a statement.
It is located at 550 S. Palos Verdes St.
In January, Starwood Capital announced it had formed an opportunity zone business.
In New York, Starwood Capital is planning a 147,000-square-foot mixed-use project. The project is in an opportunity zone in the South Bronx.
Commercial real estate reporter Hannah Madans can be reached at firstname.lastname@example.org. Follow her on Twitter @HannahMadans
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Westlake Building Sells for $273 Million
- Genton Cockrum Partners Selected for Mixed-Use Project at Former Courthouse in San Pedro
- AECOM, Canyon Partners Form Commercial Development Joint Venture
- Beverly Hills Site Acquired for $130M, Luxury Residential and Retail Planned
- Beverly Hills Site Gets $190M Loan
- Two Apartment Buildings in Downtown Sell for $406 Million
- Westlake Apartment Complex Sells for $48 Million