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Greystar-Led Fund Completes Acquisition of Monogram

The total portfolio transaction value is approximately $4.4 billion, including the PGGM JV and debt assumed or refinanced.

By Lisa Brown | lisabrown | Updated on September 20, 2017

Bob Faith Bob Faith says the acquisition furthers Greystar’s mission to be the global leader in rental housing.

PLANO, TX—Monogram Residential Trust Inc. an owner, operator and developer of apartment communities with a significant presence in select coastal markets, announced the completion of the company’s previously announced acquisition by the newly formed perpetual-life fund Greystar Growth and Income Fund LP, led by Greystar Real Estate Partners and its initial founding capital partners, affiliates of APG Asset Management NV, GIC and Ivanhoé Cambridge. The announcement follows Monogram stockholders’ vote to approve the merger and the other transactions contemplated by the merger agreement, including the restructuring of Monogram’s joint venture with PGGM, on September 14, 2017. The total portfolio transaction value is approximately $4.4 billion, including the PGGM JV and debt assumed or refinanced.

Pursuant to the transaction, Monogram’s stockholders will be entitled to receive $12.00 per share in cash. As a result of the transaction, the company’s common stock will cease trading on the New York Stock Exchange, effective today.

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