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...

This is an archived article that was published on sltrib.com in 2011, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted. The site of a former brick factory in Murray is being transformed into an urban-style neighborhood. Hundreds of apartments are being built — and hundreds more are coming — as part of the Fireclay development that promises to transform a once-dilapidated side of town. The first phase of the project, Lions Gate at Fireclay, began earlier this year. Renters are expected to arrive by next spring. The next phase, Brick Gate at Fireclay, is scheduled to start next month. Construction will take 20 months. By the time the project is complete, it will have a total of 268 low- income housing units and 400 market-rate apartments. The development at 4400 South and 100 West is a joint venture...

RICHMOND, VA - Landmark Apartment Trust , a multifamily real estate investment trust with assets located in select metropolitan areas throughout the Southern United States , announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by Monument Partners, an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust , 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 common unit in an all- cash transaction . Payment of the per share and per common unit consideration is net of all transaction expe...

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...

Valletta, Malta’s compact, walkable capital , overlooks its magnificent Grand Harbor . (John McKenna/Alamy Stock Photo) A strategic location can be more curse than blessing. Just ask the Maltese, whose tiny island nation lies 50 miles below Sicily. Early in World War II, when Malta was a British possession, Germany and Italy bombed it almost daily. And centuries earlier it was the site of the Great Siege of 1565, a devastating, yet ultimately unsuccessful, step by the Ottoman Turks toward conquering all of western Europe. For travelers today, Malta’s proximity to Europe’s glamour destinations is a definite plus — if not a widely appreciated one. Often experienced as a day stop on Mediterranean cruises, Malta greatly rewards a longer stay. The 17-by-8-mile island is packed with lovingly restored sites that bring history to life, as my wife and I discovered in mid-May in what served as a perfect four-day prelude to a Venice visit. Beyond its history, Malta’s landscape offers a natu...

The city of Indianapolis is prepared to commit up to $4.6 million to the downtown Bottleworks project , with most of the amount needed to move an electric transmission line running through the site. A 38- page project agreement between the city and developer Hendricks Commercial Properties , set to be approved Wednesday by the Metropolitan Development Commission , outlines city costs associated with the project, along with other details. Beloit, Wisconsin-based Hendricks in July won approval from the Indianapolis Historic Preservation Commission to build the $260 million project on the 11-acre site of the former Coca- Cola bottling plant . Construction on the property at North College and Massachusetts avenues is expected to begin early next year. Plans call for a 136- room West Elm hotel , an eight-screen cinema, office and retail space, and apartments and condominiums. To help prime construction, the city has agreed to pay Indianapolis Power & Light up to $4 million to move ...

Industries › Commercial Real Estate October 22, 2015  |  Print this page Landmark Apartment Trust Inc., a Richmond- based multifamily real estate investment trust , announced Thursday that it has entered into a merger agreement to be acquired by Monument Partners LLC , an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust , in an all- cash deal valued at about $1.9 billion, including the assumption of existing debt. Upon completion of the transaction, Landmark will become a privately held company . According to the agreement, Monument will acquire all of the outstanding stock of Landmark and all the outstanding common units of Landmark’s operating partnership, Landmark Apartment Trust Holdings LP , for $8.17 per share of common stock. Landmark’s board of directors has approved the merger agreement and has recommended approval of the merger by the company’s stockholders.  The transaction is contingent on the approval by st...

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...