Apartment Choice

TH Real Estate, a subsidiary of TIAA, purchased The Atlantic at East Delray, a 228- unit community in Delray Beach, Fla. PS Vinings Owner LLC , a partnership between Pollack Shores and an affiliate of Heitman LLC, sold the property. According to the Daily Business Review , the asset traded for $54.3 million. Executive Managing Directors Avery Klann and Hampton Beebe, Director Jonathan Senn , Transaction Manager Matthew Scarola and Vice Chairmen Dick Donnellan and Marc deBaptiste, all from ARA Newmark, represented the sellers in the transaction. Located at 650 Lavers Circle, the Southeast Florida community is just east of Interstate 95 and close to retail options, the beach and the primary entertainment strip in Delray Beach, Atlantic Avenue. The property’s location provides access to major employment centers in both West Palm Beach and Boca Raton. Featuring luxury one-, two- and three- bedroom apartments , the 1996- built property includes various amenities, such as: A sand vo...

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 ...