Tampa-based Landmark Apartment Trust Inc. has been sold to Monument Partners LLC. in a cash transaction, including the assumption of existing debt valued at $1.9 billion. The portfolio consists of full or partial ownership of approximately 24,000 apartment units located primarily across the south and in Texas. The purchase price of the deal works out to $8.17 per share for the REIT’s outstanding common stock. Monument Partners is a partnership owned by affiliates of Greenwich, CT-based Starwood Capital Group and Dallas-based Milestone Apartments Real Estate Investment Trust.
