Starwood Urban acquired the properties between 1998 and 2001, and proceeded to renovate them and lease them up. The offerings include two Metropolitan Boston area properties in Wellesley, MA totaling 44,300 sf. In addition, there are six properties in the greater New York City region, including the 67,000-sf office building at 430 W. 14th St. in the city's Meat Packing District, and five other properties in South Norwalk, CT, accounting for 159,300 sf.

In Metropolitan Washington, the list features the 93,000-sf office structure at 5225 Wisconsin Ave., as well as 14 other structures in the District, Chevy Chase, MD, and Alexandria, VA, for a grand total of nearly 500,000 sf. In the Miami Beach/Coral Gables, FL market, Starwood Urban is putting forth two buildings accounting for 120,000 sf in Miami Beach, and 80,000 sf of structures along Miracle Mile in Coral Gables. The crown jewel of the Miami Beach/Coral Gables collection is an upscale mixed-use development that just reached completion last quarter in the center of activity in Coral Gables. The 305,000-sf property consists of 184 luxury residential units, 25,000 sf of class A boutique office space, 40,000 sf of retail offerings and a 615-car parking facility.

UIA's Robert Wennett tells GlobeSt.com why the portfolio is on the market. "We started this fund with Starwood Capital Group's Opportunity Fund V in 1998 with $100 million in equity, and the plan was to invest in urban mixed-use assets in major metropolitan markets for three years, and then re-lease, retenant, expand and renovate them." Wennett and partner Constance Collins Davis own Wennett/Urban Retail, which is the operating member of Starwood Urban. "We completely invested all funds, and the plan was to sell at year six or seven."