Starwood to Acquire Canada’s Milestone Apartments REIT in $2.9B Deal

1/22/17

A unit of private investment firm Starwood Capital Group said it would buy Canada’s Milestone Apartments Real Estate Investment Trust (MST_u.TO) in a deal valued at about $2.85 billion.

Starwood Capital will pay $16.15 in cash per Milestone Apartments unit, the REIT said.

Based on current exchange rates the offer equates to about C$21.47 per Milestone Apartments unit, which is a premium of 9.2 percent to the unit’s close of C$19.66 on Wednesday.

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