Monogram Residential Trust, Inc, an owner, operator and developer of high-quality apartment communities with a significant presence in select coastal markets, announced the completion of the Company’s acquisition by the newly formed perpetual-life fund Greystar Growth and Income Fund, LP, led by Greystar Real Estate Partners and its initial founding 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.
Monogram is a fully integrated self-managed real estate investment trust that invests in, develops and operates high quality multifamily communities offering location and lifestyle amenities. Monogram invests in stabilized operating properties and properties in various phases of development, with a focus on communities in select markets across the United States. As of June 30, 2017, Monogram's portfolio includes investments in 48 multifamily communities in 10 states comprising 13,438 apartment homes.
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