Tampa REIT sells for $1.9 billion

TAMPA — Monument Partners LLC has purchased Tampa-based Landmark Apartment Trust Inc. for $1.9 billion in cash, according to a press release.

Landmark, a multifamily real estate investment trust, has full or partial ownership of approximately 24,000 apartment units primarily in the South and in Texas. As a result of the purchase, Monument has acquired all of Landmark's outstanding common stock at $8.17 per share, the statement says.

Monument Partners is an entity owned by affiliates of Greenwich, Conn.-based Starwood Capital Group and Dallas-based Milestone Apartments Real Estate Investment Trust.