Starwood joint venture buys West Palm Beach site for $4 million

The site of the planned Jefferson West Palm Beach apartment community has been sold for $4 million, according to Dennis Palumbo Realty. The 11.14-acre site, which is located at the southwest corner of Executive Center Drive and Congress Avenue, is zoned for a 282-unit rental development. Dennis Palumbo negotiated the deal, acting as broker for the buyer, a partnership between Jefferson Apartment Group and Starwood Capital Group, and the seller, Tiger Investment Group. — Alexander Britell