Starwood Urban LLP sold the final South Florida piece of its $500 million, 1.2-million-square-foot, mixed-use real estate portfolio

South Florida CEO, March, 2005

Starwood Urban LLP sold the final South Florida piece of its $500 million, 1.2-million-square-foot, mixed-use real estate portfolio. The X Aragon/55 Miracle Mile property--now called 10 Aragon--in downtown Coral Gables, has 184 residential units and 65,000 square feet of retail and office space.

It was sold to Connecticut-based Prospect Capital Group and New York-based Robert Martin Co. for approximately $80 million, according to published reports. Starwood had asked for $100 million.