Exterior of garden apartment Canyon Ridge in Rockwall, TX is one of 78 garden-style properties trading to Starwood Capital Group.

DALLAS—Milestone Apartments Real Estate Investment Trust, which in 2015 partnered with Starwood Capital Group to acquire Landmark Apartment Trust Inc., now will be acquired itself by Starwood Capital. The apartment REIT is being taken private for $1.3 billion in cash, in a deal with an enterprise value of $2.85 billion including the assumption of debt.

The deal will add 78 multifamily garden-style residential properties, comprising 24,061 apartment units across 16 major metropolitan markets throughout the Southeast and Southwest, to Starwood Capital’s portfolio. The Greenwich, CT-based asset management firm already controls 67,000 units across the Sunbelt.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.