An Ontario-based REIT has completed its “going private” transaction with a U.S.-based conglomerate.
The takeover by private alternative investment firm Starwood Capital Group was previously approved by Milestone REIT unitholders, and involved the redemption of all outstanding trust units of the REIT.
“In connection with the Closing, Milestone unitholders can expect to receive on or about May 3, 2017 a final liquidating distribution of US$16.30041 per Unit, which includes an amount equal to the amount that would otherwise have been paid as the REIT's April distribution,” Milestone REIT announced.
“With the completion of the Transaction, the Units ceased trading on the Toronto Stock Exchange (the "TSX"), and Milestone has received confirmation that the Units will be delisted from the TSX at close of business today. Milestone will also cease to be a reporting issuer under applicable Canadian securities laws,” the REIT added.
Interested parties can find more information via the REIT’s online portal
Milestone Apartments REIT unitholders approve takeover by U.S.-based firm