TORONTO AND DALLAS, Aug. 27, 2014 /CNW/ - Milestone Apartments Real
Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today
announced that it has filed and obtained a receipt for a final base
shelf prospectus (the "Shelf Prospectus"). The Shelf Prospectus was
filed with the securities regulatory authorities in each of the
provinces and territories of Canada for the purpose of the sale of
securities. The intention of the Shelf Prospectus is to allow the REIT
to more quickly access capital when market opportunities permit.
The Shelf Prospectus is valid for a 25-month period, during which time
the REIT may offer and issue, from time to time, trust units, debt
securities, warrants and subscription receipts, or any combination
thereof, having an aggregate offering price of up to C$650,000,000.
Each offering of securities under the Shelf Prospectus will require the
filing of a prospectus supplement that will include the specific terms
of the securities being offered at that time.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. This news release also does not constitute an
offer to sell or the solicitation of an offer to buy in the United
States and the securities referred to in this news release may not be
offered or sold in the United States absent registration under the U.S.
Securities Act of 1933 or pursuant to an applicable exemption from the
registration requirements under the U.S. Securities Act of 1933 and
applicable state securities laws.
About Milestone
Milestone is an unincorporated, open-ended real estate investment trust
that is governed by the laws of Ontario. The REIT's portfolio consists
of 57 multifamily garden-style residential properties, comprising
18,772 units that are located in 12 major metropolitan markets
throughout the Southeast and Southwest United States. Milestone is the
largest real estate investment trust listed on the TSX focused solely
on the United States multifamily sector. The REIT operates its
portfolio through its internal property management company, Milestone
Management, LLC, which has more than 900 employees across the United
States. Based in Dallas, TX, TMG Partners, L.P., an affiliate of The
Milestone Group, LLC, is the external asset manager of the REIT. For
more information, please visit www.milestonereit.com.
About The Milestone Group, LLC
The Milestone Group is a privately-held real estate investment
management company with expertise and presence in major metropolitan
markets throughout the United States. The firm has corporate offices in
Dallas, TX and New York, NY with regional acquisition and management
offices across the United States. Founded in 2004, The Milestone Group
has a strong track record of investing in the U.S. multifamily sector,
including completion of more than US$4.5 billion in multifamily
transactions. For more information, please visit www.milestonegp.com.
Forward-looking information
This news release may contain forward-looking statements (within the
meaning of applicable securities laws) relating to the business of the
REIT and the environment in which it operates. Forward-looking
statements are identified by words such as "believe", "anticipate",
"expect," "intend", "plan", "will", "may" and other similar
expressions. Some of the specific forward-looking statements in this
news release include, but are not limited to, statements regarding
whether the REIT will issue additional securities pursuant to a
prospectus supplement. Such statements are based on a number of
assumptions and are subject to a number of risks and uncertainties,
many of which are beyond the REIT's control that could cause actual
results and events to differ materially from those that are disclosed
in or implied by such forward-looking information. Such risks and
uncertainties include, but are not limited to, the factors discussed
under "Risk Factors" in the final base shelf prospectus of the REIT
dated August 27, 2014. There can be no assurance that forward-looking
statements will prove to be accurate as actual outcomes and results may
differ materially from those expressed in these forward-looking
statements. Readers, therefore, should not place undue reliance on any
such forward-looking statements. Further, a forward-looking statement
speaks only as of the date on which such statement is made. The REIT
undertakes no obligation to publicly update any such statement or to
reflect new information or the occurrence of future events or
circumstances.
SOURCE Milestone Apartments REIT
<p> Robert Debs, Investor Relations<br/> Milestone Apartments REIT<br/> Tel: 214.561.1215 </p> <p> Bruce Wigle, Investor Relations<br/> Bryan Mills Iradesso (BMIR)<br/> Tel: 416.447.4740, x 232 </p>