Apartment Choice

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 ...

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...

Designed by KTGY Group, 2525 El Camino Real Senior Apartments , a development by ROEM Corporation , in collaboration with Pacific Housing , Inc. and the City of Santa Clara, broke ground on a new affordable apartment community for low income seniors . 2525 El Camino Real Senior Apartments in Santa Clara, CA" title=" 2525 El Camino Real Senior Apartments in Santa Clara, CA" width="154" height="87" class="im2" /> 2525 El Camino Real Senior Apartments in Santa Clara, CA June 21, 2012 - PRLog -- SANTA CLARA, CA - On Wednesday, June 20, 2012, Santa Clara broke ground on 2525 El Camino Real Senior Apartments , a development by ROEM Corporation , in collaboration with Pacific Housing , Inc. and the City of Santa Clara. The groundbreaking ceremony began at 2:00 p.m. at 2525 El Camino Real , Santa Clara, California 95050 (cross streets: El Camino Real and Buchanan Drive). " Providing affordable housing for our community is a very im...

Mainstreet Cleveland announced Friday award recipients for the Mainstreet Cleveland Property Enhancement Grant program .  Ten properties in downtown Cleveland were selected to receive grants totaling $54,953.  Based on the investments of these 10 projects, a total of more than $240,000 will be reinvested into downtown properties.     The Mainstreet Cleveland Property Enhancement Grant was formed to encourage building owners and tenants to invest in properties located within the Mainstreet Cleveland footprint by financially assisting with building needs that serve an appropriate public purpose and benefit.   Positive building appearance has been proven to increase property values , improve the marketability of space within the building and attract new businesses, residents and visitors to an area, said officials.  This decision was a difficult one for the grant selection committee , 24 quality applications were submitted.  In fact, the projects were so impressive that the Mainstre...

This article is reprinted by permission from NextAvenue.org. I suspect that when Americans think about retiring abroad, they focus on Latin American countries , due to proximity and because places like Panama, Belize, Costa Rica and the Dominican Republic usually show up on Best Places to Retire Abroad lists . Well, you won’t find any of those four countries in the Top 10 of The World’s Best Places to Retire in 2017 from Live and Invest Overseas . What you will find is a preponderance of Europe (six of the Top 10) plus a smattering of Mexico (two places) and Asia (two places, both in Malaysia). Another surprise: eight of those didn’t even make the Top 10 in the 2016 list from Live and Invest Overseas . “That surprised me too,” said Lief Simon, investment editor at Live and Invest Overseas and husband of the group’s founder and publisher, Kathleen Peddicord. In this year’s Top 10, the Algarve region of southern Portugal ranked No. 1 (for the fourth year in a row). Rounding out the...

SOUTH BEND — The city's historic preservation agency Monday rejected a request by South Bend schools officials to demolish the old Marquette School building , a plan that has been in the works for years but has met with resistance from preservationists. The South Bend-St. Joseph County Historic Preservation Commission held a public hearing on the South Bend Community School Corp .'s request to demolish the 1937 building to create more outdoor space for the current Marquette Primary Montessori Academy . Elicia Feasel, the commission's executive director, recommended that the panel deny the request. In a report to the commission, she concluded that the school corporation had failed to prove the types of safety issues that would justify demolishing a local historic landmark . The commission agreed and voted 4-1 to deny the district's request for approval to demolish the building. Several members faulted the school corporation for building the new Marquette school in...

An Illinois- based real estate firm has purchased the 384- unit Solana Apartments at the Crossing complex for a jaw-dropping $60.5 million from an affiliate of Indianapolis- based real estate firm Milhaus , the parties announced Tuesday . It’s just the latest chapter in the twisty story of the high-end development at the southeast corner of East 78th Street and Keystone Avenue. The project began life as a planned, $ 150 million South Carolina - themed condo community that never was completed. Milhaus bought the 55-acre property out of bankruptcy in 2012 from Star Financial Bank with plans to complete the project—but as upscale apartments. The firm finished development within the last month and already has leased more than 95 percent of the units, said Milhaus CEO Tadd Miller . Milhaus chose to sell the suburban-based Solana so it could focus on its bread-and-butter, urban projects. They include the Circa, Artistry and Mozzo projects in downtown Indianapolis. “Solana was a gr...

SUBHEAD: The Texas capital plan for sustainability does not include some minority neighborhoods. By Raj Mankad on 15 August 2017 for Grist - (https://grist.org/article/the-newer-greener-houston-isnt-for-everybody/) Image above: In some cases, little more than a fence separates Manchester homes from neighboring fossil fuel industry . Photo by Paul Hester. From original article. Juan Parras gives one hell of a tour of Houston’s east side. He’s charming and funny. Wearing a beret, he strikes an old-world look, like he might lead you to a cafe on a plaza. He doesn’t charge a fee for his services. After all, you’re on a “toxic tour,” and Parras is on a mission. Parras grew up in 1950s West Texas . He remembers segregated schools, the restaurants that wouldn’t serve him, the unpaved roads, and the people who lived closest to the local refinery. Those experiences led him to a career as a social justice advocate . The resident of Houston’s heavily industrial east side has worked in a ci...