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Greystar Fund to Acquire Monogram in $3 Billion Deal

Greystar Fund to Acquire Monogram in $3 Billion Deal Fortune (07/04/17) Gallucci, Jaclyn

A new fund led by Greystar Real Estate Partners, the nation's biggest operator of apartments, has agreed to buy luxury U.S. apartment developer Monogram Residential Trust Inc for around $3 billion. Texas-based Monogram owns, manages, and develops luxury apartment communities in such coastal and urban as Boston and South Florida. The new Greystar-led fund, dubbed Greystar Growth and Income Fund LP, received additional founding capital from affiliates of APG Asset Management N.V. of the Netherlands, Singaporean sovereign wealth fund GIC, and Canadian real estate investor Ivanhoe Cambridge.