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Starwood Urban Investments Picks Codina to Run Local Properties

CORAL GABLES, FL-The Washington, D.C.-based company wants to build a national mixed-use assets portfolio of about $1 billion. Coral Gables is six miles south of Downtown Miami. The contract's value wasn't disclosed.

By David R. Corder | Updated on April 05, 2001

CORAL GABLES, FL-Codina Real Estate Management Inc. has negotiated an exclusive contract to manage a group of local commercial properties for a Washington, DC-based company on a mission to build a national portfolio estimated at $1 billion. The contract’s value wasn’t disclosed.

The property management division of locally based Codina Group Inc. agreed to market a current portfolio of about 225,000 sf of mix-used retail-office space that Starwood Urban Investments owns in the Miracle Mile section of Coral Gables and the Lincoln Road section of Miami Beach.

The deal pairs an operating unit of what may be the largest real estate development and management company in Florida with the Washington-based affiliate of Starwood Capital–the Greenwich, CT company responsible for the formation of Starwood Hotel & Resorts Inc., the real estate investment trust.

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