PLANO, TX--Monogram Residential Trust Inc. has acquired two properties: EV in San Diego, CA and The Mark in Boca Raton, FL, in separate transactions.

Monogram acquired the two luxury apartment communities as part of a tax-deferred exchange, utilizing proceeds from previously announced dispositions, supporting the company's investment strategy of exiting non-core markets and growing its core coastal market portfolio.

“We are pleased to add two new, highly amenitized urban communities in core target coastal markets to our operating platform utilizing a tax efficient exchange,” says Mark T. Alfieri, CEO, president and COO of Monogram. “We continue to grow our portfolio through both development and acquisitions, where we are able to recycle capital toward higher growth regions. We believe that as a result of this strategy, Monogram will be able to produce outsized growth over the long term.”