On April 28, 2017, Milestone Apartments Real Estate Investment Trust ("Milestone") announced the completion of its sale to Starwood Capital Group ("Starwood") for US$2.85 billion. Starwood acquired all of Milestone’s subsidiaries and assets, and Milestone unitholders will receive US$16.30 per trust unit in cash. BMO Capital Markets Corp. acted as financial advisor to Milestone.
Milestone is an unincorporated, open-ended real estate investment trust that focuses on acquiring and owning multifamily properties in the United States. Milestone has over 24,000 apartment units located in 16 major metropolitan markets throughout the southeast and southwest United States.
Starwood Capital Group is a private investment firm with a primary focus on global real estate and currently has over $55 billion of assets under management.
Osler, Hoskin & Harcourt LLP represented BMO Capital Markets Corp. with a team consisting of Jeremy Fraiberg and Don Gilchrist (Corporate).