"We are confident that our latest asset addition provides the opportunity for solid long-term investment," says Michael R. Forsum, Starwood's West Region President.
"These properties are in our select markets in attractive locations of sought-after regions that have experienced high housing demand and are poised for lasting growth."
says all of the residential land procured in the three-state purchase is located in high-growth areas.
"The majority of the homesites are substantially complete" and ready for construction, he
says Starwood Land principals and affiliates have participated in the development of over 75,000 residential properties with a sell-out value of over $15 billion.
The company operates by forming partnerships with builders, developers, lenders and land holders.
also purchases debt and specializes in the acquisition, entitlement and development of large, master-planned communities, some offering mixed-use components.
Land principals receive returns only when our partners and investors, receive theirs, aligning incentives and enhancing returns," says Forsum
Forsum also held previous executive roles at KB Homes and Ryland Homes.