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Starwood Buying Milestone Apartment REIT for $2.85B
Starwood Capital Group agreed to buy Milestone Apartments Real Estate Investment Trust for a cash-for-stock transaction valued at approximately $2.85 billion. The Connecticut-headquartered Starwood will end up with more than 24,000 U.S. apartment units, as well as the REIT’s subsidiaries and assets.
Starwood and Milestone are not strangers. They partnered in 2015 to acquire Landmark Apartment Trust for approximately $1.9 billion. In 2016. Starwood acquired a massive Equity Residential portfolio consisting of 23,262 units across 72 properties in a deal valued at $5.4 billion.
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