A unit of private investment firm Starwood Capital Group has announced plans to acquire the Canadian-based Milestone Apartments Real Estate Investment Trust in a transaction valued at about $2.85 billion. The portfolio consists of 78 multifamily residential properties, comprising 24,061 apartment units, located throughout the Southeast and Southwest United States. The deal breaks down to approximately $120,000 per unit. Milestone’s legal advisers are Goodmans and Vinson & Elkins, while Starwood was represented by Stikeman Elliott and Kirkland & Ellis.
