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TAMPA — Monument Partners LLC has purchased Tampa-based Landmark Apartment Trust Inc. for $1.9 billion in cash, according to a press release.
Landmark, a multifamily real estate investment trust, has full or partial ownership of approximately 24,000 apartment units primarily in the South and in Texas. As a result of the purchase, Monument has acquired all of Landmark's outstanding common stock at $8.17 per share, the statement says.
Monument Partners is an entity owned by affiliates of Greenwich, Conn.-based Starwood Capital Group and Dallas-based Milestone Apartments Real Estate Investment Trust.
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