The global private investment firm was formed in 1991. Today, it has more than $60 billion of assets under management, according to its website.
According to a press release issued by the Bainbridge Companies, the project welcomed its first residents last month. The developer began pre-leasing efforts in July.
Amenities include a 24-hour fitness center featuring Peloton bikes and a 24-hour, video-monitored mail center with package lockers. Apartments feature modern kitchens, Nest thermostats and up to 12-foot tall ceilings heights.
In 2017, the Bainbridge Companies paid $6.95 million to acquire the 3.22-acre lot where it planned to develop the apartment community it calls Bainbridge Winter Park.
It’s unclear if the development will be renamed. Representatives at Starwood Capital declined to comment on the story.
Earlier this summer, GrowthSpotter reported its sister development, Broadstone at Winter Park, had sold for about $84 million. Black Creek Group, a Denver-based real estate investment manager and development firm, was the buyer. The trade marked its first purchase in the Orlando market.
Broadstone at Winter Park, a 268-unit property at 1305 Morgan Stanley Ave., was sold by a joint venture partnership between multifamily developer Alliance Residential Company and a real estate fund by the Carlyle Group.
It was completed last year and was 85 percent leased at the time of closing. That deal broke down to about $315,112 per unit.
The multifamily apartment buildings sit north of Ravaudage’s restaurant corner, where restaurants Todo Sushi and Miller’s Ale House have locations.
Ravaudage developer Bellows began assembling land for the mixed-use project in 2002, until he eventually amassed about 75 contiguous acres on the northwest corner of Lee Road and N. Orlando Avenue through more than 200 transactions.