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Milestone Apartments Real Estate Investment Trust (MST_u.TO)

MST_u.TO on Toronto Stock Exchange

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4:00pm EDT
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$0.34 (+1.60%)
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$21.30
Open
$21.61
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$21.74
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$21.60
Volume
5,945,687
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503,659
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$21.92
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$16.28

Latest Key Developments (Source: Significant Developments)

Milestone Apartments REIT and Starwood Capital agree to revised going private transaction
8:01am EDT 

Milestone Apartments Real Estate Investment Trust : Milestone Apartments REIT and Starwood Capital Group agree to revised going private transaction that will result in unitholders receiving US$16.25 per trust unit . Milestone Apartments Real Estate Investment - institutional unitholders representing about 16 pct of co's voting units committed to vote in favor of deal .Milestone Apartments Real Estate Investment Trust- senior management agreed to certain financial concessions and commitments totaling more than $7 million.  Full Article

Milestone Apartments REIT reports Q4 diluted FFO per unit $0.31
8:00am EDT 

Milestone Apartments Real Estate Investment Trust : Milestone Apartments REIT announces 2016 fourth quarter and year-end results . Q4 diluted FFO per unit $0.31, q4 AFFO per unit $0.28 .Q4 FFO per share view $0.29 -- Thomson Reuters I/B/E/S.  Full Article

Milestone Apartments REIT reports Q3 ffo per unit $0.28
Thursday, 10 Nov 2016 05:41pm EST 

Milestone Apartments Real Estate Investment Trust : Milestone Apartments REIT reports 2016 third quarter results . Qtrly diluted ffo and affo per unit were $0.28 and $0.25, respectively . Q3 FFO per share view $0.28 -- Thomson Reuters I/B/E/S .Qtrly total and same store NOI were $38.0 million and $27.4 million, respectively, up 29 pct and 9.1 pct from Q3 2015.  Full Article

Milestone Apartments REIT closes internalization transaction
Friday, 30 Sep 2016 04:06pm EDT 

Milestone Apartments Real Estate Investment Trust: Milestone apartments REIT closes internalization transaction and renews base shelf prospectus .Says shelf prospectus having an aggregate offering price of up to C$750 million.  Full Article

Milestone Apartments REIT reports Q2 AFFO $0.25/unit
Thursday, 11 Aug 2016 04:01pm EDT 

Milestone Apartments Real Estate Investment Trust : Milestone Apartments REIT reports 2016 second quarter results . Milestone Apartments Real Estate Investment Trust qtrly diluted FFO/unit and AFFO per unit were $0.28 and $0.25 respectively . Qtrly total and samestore property revenue were $66.9 million and $48.4 million, respectively, up 26.2 pct and 6.0 pct from Q2 2015 .Q2 FFO per share view $0.29 -- Thomson Reuters I/B/E/S.  Full Article

Milestone Apartments REIT Announces Internalization of Asset Management
Tuesday, 26 Jul 2016 05:48pm EDT 

Milestone Apartments Real Estate Investment Trust : As a result of internalization, annual management fee and incentive fee expenses will be eliminated. . Terms of transaction were negotiated,unanimously recommended for approval by independent trustees of REIT . Says action immediately accretive to REIT's AFFO per unit by approximately 4% . Robert Landin,all other asset manager personnel to become employees of subsidiary of REIT . Milestone apartments REIT announces internalization of asset management . Co's operating partnership will acquire TMG Partners L.P., REIT's external asset for $25.0 million in cash . Deal expected to be funded with a drawdown on REIT's revolving line of credit, and 5.3 million class B limited partnership units . Aggregate consideration for TMG Partners L.P. is approximately $106.5 million .Expects to incur about $3 million annually of additional salaries, overhead due to internalization.  Full Article

Landmark Apartment Trust Inc to be acquired by Starwood Capital Group and Milestone Apartments REIT
Thursday, 22 Oct 2015 03:37pm EDT 

Landmark Apartment Trust Inc:Entered into a definitive merger agreement pursuant to which it will be acquired by Monument Partners, L.L.C. (Monument), an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust.Upon completion of the transaction, Landmark will become a privately held company.Says deal for about C$1.9 bln.  Full Article

Milestone Apartments REIT announces $45.1 million property acquisition in Dallas
Wednesday, 26 Aug 2015 09:15am EDT 

Milestone Apartments REIT:Says acquisition is expected to be accretive to the reit.Says will disclose the final details of the purchase, including financing terms, following closing of the acquisition.Says entered into an agreement to purchase broadstone Vista ridge in the lewisville submarket of Dallas, Texas.  Full Article

Milestone Apartments REIT announces August 2015 Distribution
Friday, 14 Aug 2015 07:31pm EDT 

Milestone Apartments REIT:Announces a cash distribution of C$0.05417 per REIT unit for the month of August, representing C$0.65 per REIT unit on an annualized basis.Says payment will be made on Sep. 15, to unitholders of record as at Aug. 31.  Full Article

Milestone Apartments Real Estate Investment Trust and MileSouth Apartment Portfolio LP announce C$125 mln bought deal equity offering
Thursday, 14 May 2015 04:44pm EDT 

Milestone Apartments Real Estate Investment Trust and MileSouth Apartment Portfolio LP:Reached agreement with syndicate of underwriters co-led by BMO Capital Markets and CIBC to sell 9,127,981 units of REIT comprised of 6,942,981 units from treasury and 2,185,000 units from MileSouth on a bought deal basis for gross proceeds of about C$125 mln.BMO Capital Markets is sole bookrunner on offering.Expects about C$60 mln of treasury proceeds from offering will be used by REIT to repay amounts drawn under REIT's credit facility which were used to partially fund previous acquisitions, for future acquisitions and for general trust purposes.Remaining treasury proceeds will be about C$35 mln and are expected to be used by REIT to redeem all of class B limited partnership units of Milestone Multifamily Investors LP held by MileSouth.Says proceeds from secondary offering of about C$30 mln will be paid to MileSouth.Upon completion of offering, Milestone expects that MileSouth will own about 11.8 million units, representing about 17.9 pct ownership interest in REIT, down from about 26.9 pct.  Full Article

More From Around the Web

Starwood Capital slightly raises bid for Milestone Apartments REIT

Investment firm Starwood Capital Group slightly raised its offer to buy Canada's Milestone Apartments Real Estate Investment Trust , weeks after proxy advisory firm ISS recommended unitholders to vote against the C$1.7 billion ($1.3 billion) deal.