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...

LEWISTON — The city is seeking a large federal grant that would address housing and other issues in the poorest areas of downtown Lewiston , and neighborhood advocates say the funds could go a long way toward implementing goals they've had for years.  If successful in its bid, Lewiston could receive $1.3 million from the U.S. Department of Housing & Urban Development and what's known as a  Choice Neighborhood Planning and Action Grant. The city council approved the application last week, and will commit $237,500 in local Community Development Block Grant funds during implementation if the grant is successful.  The city hopes the funding can lead to long-term changes in the downtown neighborhood , where nearly half of residents live below the federal poverty level . According to 2015 census figures, the median family incomes in downtown census tracts 201 and 203, are $12,417 and $16,047, respectively.  The main purpose of the funds is to plan and execute major housing...

The Wine Institute estimates that nearly 24 million people visit the 4,653 wineries in California’s wine regions each year. That tourism's economic impact in the state, which last year totaled $57.6 billion, includes a robust hospitality and lodging market. While construction slowed a bit last year, there were 26 hotels with 2,204 rooms in the planning stages for northern California’s vineyard- rich Sonoma County , and 13 hotels with 1,621 rooms being planned for Napa Valley, according Atlas Hospitality Group ’s 2016 California Hotel Development Survey . Earlier this month, construction began on one of those establishments, the $24 million, 122- key Hotel Trio in Healdsburg, Calif., which CU Investors, its developer, expects to open next April. The 82,638-sf hotel, situated in the Sonoma wine country , will serve the Dry Creek, Russian River, and Alexander Valley areas (hence, the “trio”). It will be within walking distance of a host of wineries and have convenient access to hu...

The 155- unit Ann Arbor City Apartments is under construction on West Washington and South First streets in downtown Ann Arbor . Daniel Brenner | AnnArbor.com Editor's note: The number of parking spaces to be held by Village Green has been corrected. Related story: Rent comparison : What can you get for $2,500 a month around Ann Arbor? Luxury apartments in downtown Ann Arbor are no longer just for students. The under-construction Ann Arbor City Apartments on the southeast corner of West Washington and South First streets is the first luxury apartment project built downtown in years that doesn’t cater to students. It’s designed for young professional renters as well as corporate relocation. "It's midway between the YMCA and the core of downtown where U-M jobs are," said Susan Pollay , executive director of Ann Arbor's Downtown Development Authority . "I think it feels like, from what I saw, exactly one of the things needed in this marketplace." ...