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Milestone Apartments REIT Acquires 1,460-Unit US Portfolio


Toronto-based Milestone Apartments REIT has acquired a six-property, 1,460-unit portfolio for US$242M. The purchase includes Talon Hill, a 276-unit property in Colorado Springs, CO, above; Eagle Ridge (168 units) in Denver; and Quail Landing (216 units) in Oklahoma City. Earlier this month Milestone completed the acquisition of Fairways at Birkdale in Charlotte (180 units) and Costa Bella in San Antonio (344 units). The REIT said its purchase of Casa Mirella in Orlando (276 units) is expected to close in coming weeks.