Apartment Choice

RICHMOND, Va.--( BUSINESS WIRE )-- Landmark Apartment Trust , Inc. (“Landmark” or the “Company”), a multifamily real estate investment trust with assets located in select metropolitan areas throughout the Southern United States , announced today that it has entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which it will be acquired by Monument Partners, L.L.C. (“Monument”), an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) (“Milestone”), in an all- cash transaction valued at approximately $1.9 billion, including the assumption of existing debt. Upon completion of the transaction, Landmark will become a privately held company. Pursuant to the terms of the Merger Agreement, Monument will acquire all of the outstanding common stock of Landmark and all of the outstanding common units of Landmark’s operating partnership, Landmark Apartment Trust Holdings, LP, for $8.17 per share or...

GREENWICH, CONN. — Monument Partners LLC , an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust (TSX: MST.UN), has entered into an agreement to acquire Landmark Apartment Trust Inc. in an all- cash transaction valued at $1.9 billion, including the assumption of existing debt. Under the terms of the deal, Starwood Global Opportunity Fund X, through a controlled affiliate, will acquire Landmark Apartment Trust ’s ownership interest in 19,615 units in 63 apartment communities . The portfolio is located in eight Sunbelt states, with major concentrations in Dallas, Atlanta, Orlando, Tampa, Charlotte and Nashville. Milestone — which will acquire 4,172 units in 15 assets as part of the transaction — will serve as property manager for Starwood’s portion of the portfolio. “This acquisition highlights our confidence in multifamily housing as an asset class that represents an attractive risk-reward proposition for our investors,” says ...

DALLAS, TX - Pinnacle, one of the nation's leading multifamily management firms , announced today it has been awarded the management of Towns of Riverside, a 436- unit apartment community in Grand Prairie, Texas. Centrally located at 2803 Riverside Parkway, the property is set along the Highway 360 corridor between Riverside Golf Club and Great Southwest Industrial Park . The Class A community has convenient access to the Dallas/Fort Worth metropolitan area via major traffic arteries and is within minutes of a dense employment hub , DFW International Airport , the University of Texas at Arlington and world-class shopping, entertainment and healthcare."Pinnacle, in conjunction with ownership, is highly focused on elevating the resident experience at this community by making interior and exterior property upgrades to align this asset at the top of its submarket," explains Regional Vice President Toni Rials . "Post renovation, residents will enjoy updated kitchens ,...