Jan
22

Starwood Capital Snaps Up Canadian Apartment REIT for $2.9B

By
Under the terms of the deal, all of Milestone’s subsidiaries and assets will be absorbed, while Milestone unit holders will receive $16.15 per trust unit in cash.

moneyGreenwich, Conn.—Starwood Capital Group agreed to buy Canada’s Milestone Apartments Real Estate Investment Trust in a deal valued at about US $2.85 billion. Under the terms of the deal, all of Milestone’s subsidiaries and assets will be absorbed by Starwood, while Milestone unit holders will receive $16.15 per trust unit in cash.

Milestone, formed in 2013, is an unincorporated, open-ended REIT based in Toronto. Based on current exchange rates, the offer is a premium of 9.2 percent to the price per unit at the close of the markets on Wednesday…

Starwood Capital Snaps Up Canadian Apartment REIT for $2.9B

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.