A new fund led by Greystar Real Estate Partners, called Greystar Growth and Income Fund LP, has acquired U.S. apartment developer Monogram Residential Trust Inc in a deal valued at approximately $3 billion. The $12 per share price represents a 22 percent premium to the company’s closing price on July 3. The new fund led by Greystar also includes capital contributions from affiliates of Dutch pension investor APG Asset Management N.V., Singaporean sovereign wealth fund GIC and Canadian real estate investor Ivanhoe Cambridge. The purchase encompasses 49 communities and nearly 14,000 units in 10 states, including coastal and urban markets in southern Florida and Boston.
