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BRIEF-Milestone Apartments Reit announces six property portfolio acquisition for $242 mln
October 19, 2016 / 7:30 PM / a year ago

BRIEF-Milestone Apartments Reit announces six property portfolio acquisition for $242 mln

Oct 19 (Reuters) - Milestone Apartments Real Estate Investment Trust :

* Milestone Apartments Reit announces six property portfolio acquisition for US$242 million comprising 1,460 apartment units with weighted average year built of 2005 continuing to decrease average age of portfolio & 10% increase to monthly cash distribution

* Milestone Apartments Real Estate Investment Trust - Announces bought deal equity offering of approximately C$175 million of REIT units

* Milestone Apartments Real Estate Investment Trust - Reached agreement with underwriters to issue 9.5 million trust units at a price of C$18.45 per unit

* Milestone Apartments Real Estate Investment Trust - Board of trustees has approved a 10% increase to its unitholder monthly cash distributions

* Milestone Apartments Real Estate Investment Trust - Increase to cash distributions expected to be effective for jan 2017 distribution Source text for Eikon: Further company coverage:

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