Greystar Led Fund completes Acquisition of Monogram
PLANO, TX – September 19, 2017 – Monogram Residential Trust, Inc. (NYSE: MORE), an owner, operator and developer of high-quality apartment communities with a significant presence in select coastal markets, today announced the completion of the Company’s previously announced acquisition by Greystar Real Estate Partners and its capital partners, affiliates of APG Asset Management N.V., GIC, and Ivanhoé Cambridge. The total portfolio transaction value is approximately $4.4 billion, including the PGGM JV and debt assumed or refinanced.
“The Monogram Residential board of directors and management team are pleased to have completed this transaction which maximizes value for stockholders and partners that entrusted our team over the past several years,” said Mark Alfieri, Monogram's Chief Executive Officer, President and Chief Operating Officer. “The valuation achieved is a testament to the quality of the portfolio and operating platform.”
“This acquisition is highly strategic for Greystar and furthers our mission to be the global leader in rental housing,” said Bob Faith, the Founder, Chairman and Chief Executive Officer of Greystar. “We are thrilled to have such tremendous groups as our partners and investors.”
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2017 Year-End Tax Reporting Information for Monogram Residential Trust, Inc. - Common