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 ...

DEVELOPERS WITH UAE-BASED PROJECTS TO SELL ON-SITE AT CITYSCAPE GLOBAL FOR FIRST TIME UAE-based projects will be available for purchase at 16 th edition of Dubai’s flagship real estate event   Cityscape Global is paving the way for developers with UAE-based projects to sell on-site to homebuyers and investors for the first time, in what is expected to be a turning point for potential buyers looking to make purchases at the three-day exhibition. Taking place from Monday 11 September to Wednesday 13 September at Dubai World Trade Centre , Cityscape Global will feature some of the foremost developers from the region and internationally, who will showcase a range of groundbreaking real estate projects . The 16 th edition of the event will, for the first time, see visitors interested in investing in the UAE able to make purchases at the show. Developers with projects based in the UAE will be permitted to make sales on the show floor, in accordance with the rules and regulations adminis...

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...

We’re a particularly strong and well-capitalized company with a very strong investment record . Joe Lubeck Executive chairman, Landmark Apartment Trust of America Inc. The recession and slumping housing market made the past few years a good time to invest in apartments — and Landmark Apartment Trust of America Inc. was poised to take action. By acquiring more than $1 billion in properties in 2013, Landmark now owns or manages almost 33,000 units, says Joe Lubeck, executive chairman. This correlates with increased interest in renting. “We see that a lot of people are more interested in job portability and the ability to relocate from one city based on job availability, and they also no longer perceive a house as being the solid investment that it once was,” Lubeck says. “As a result, we’re seeing significant growth in the household formative years , the 25- to 40-year-old market, where people are specifically looking to be renters by choice.” Targeting distressed properties that c...

VININGS, GA --(Marketwired - June 17, 2016) - Toronto- based Sutter Hill Acquisition Corporation has acquired The District at Vinings Apartments in Metro Atlanta for $68.75 million. Sutter Hill intends to spend up to $7 million renovating the 464- unit multifamily community , which is located on almost 38 acres in the heart of the Vinings area. The transaction closed June 16 , 2016. The District at Vinings Apartments is located at 2800 Paces Ferry Rd S.E., Atlanta, 30339, less than three miles from SunTrust Park -- the new stadium for Atlanta's Major League Baseball team , the Braves -- and The Battery Atlanta, which is expected to be one of the nation's top sports, shopping and entertainment venues. The apartments are also near Home Depot headquarters , the Cobb Energy Performing Arts Center , the Cobb Galleria and quaint Vinings Village . "This is a dominant asset in a dominant location," said Sutter Hill Acquisition President and CEO Karim Kanji . "It also ...

Orlando, Fla.—Greystar has unveiled plans for a 448- unit apartment property in Orlando, with construction set to start in October for a completion date about a year later. The development will be called Elan Audubon Park , and will be in the Audubon Park Garden District near the intersection of Maguire Blvd. and East Colonial Dr . Greystar will develop, construct, and operate Elan Audubon Park upon completion. The property will be owned by the company in a partnership with an institutional global real estate opportunity fund . Charleston, SC- based Greystar manages about 385,000 units in more than 100 markets nationwide. The property will offer one-, two- and three- bedroom units ranging in size from 646 square feet to 1,370 square feet, as well as three-story, three-bedroom townhouses. Some floor plans will offer elevator access and incorporate features such as built-in desks, open kitchens with center islands, USB charging outlets and walk-in closets, as well as patios and b...