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...

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...

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...

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 ...

Landmark Apartment Trust is going public. The multifamily real estate investment trust company , which had been based in western Henrico County , filed with the Securities and Exchange Commission last week to raise up to $375 million in a proposed initial public offering . Landmark took in $262.2 million in total revenue in 2014 and posted a net loss attributable to common stockholders of $25.3 million, according to the regulatory filing. The company listed total assets of $1.82 billion. In the SEC filing, Landmark did not list a public offering stock price . In announcing the IPO filing Tuesday , the company said it intends to recapitalize its common stock. Outstanding shares will be redesignated as Class A Common Stock. The company has applied to list under the ticker symbol LAT on the New York Stock Exchange . The company said Merrill Lynch, Pierce, Fenner & Smith Inc. and Citigroup Capital Markets Inc. are joint book-running managers for the IPO. Landmark ...