Landmark Apartment Trust going public | Local

Landmark Apartment Trust is going public.

The multifamily real estate investment trust company, which had been based in western Henrico County, filed with the Securities and Exchange Commission last week to raise up to $375 million in a proposed initial public offering.

Landmark took in $262.2 million in total revenue in 2014 and posted a net loss attributable to common stockholders of $25.3 million, according to the regulatory filing.

The company listed total assets of $1.82 billion.

In the SEC filing, Landmark did not list a public offering stock price.

In announcing the IPO filing Tuesday, the company said it intends to recapitalize its common stock. Outstanding shares will be redesignated as Class A Common Stock.

The company has applied to list under the ticker symbol LAT on the New York Stock Exchange. The company said Merrill Lynch, Pierce, Fenner & Smith Inc. and Citigroup Capital Markets Inc. are joint book-running managers for the IPO.

Landmark is owner or part owner of nearly 26,000 apartment units and provides management services for an additional 1,700 units owned by affiliates.

The company has three Virginia properties — two in Portsmouth with a total of 394 units, and one in Charlottesville with 425 units.

Landmark is in an SEC-enforced “quiet period” during the review process for the filing, and company officials could not comment Tuesday.

Landmark moved from Henrico to Tampa, Fla., in early 2014, keeping its former home base on Dickens Road as a satellite office.

The company’s roots date back to the formation of Grubb & Ellis Apartment REIT in December 2005. The company was renamed Apartment Trust of America in January 2011.

Landmark also announced Tuesday that it named Greg E. Brooks as chief financial officer, effective two days ago, and the promotion of Gustav G. “Gus” Remppies to chief operating officer. Remppies has been with Landmark since the company’s formation in 2005.

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