TORONTO and DALLAS, Aug. 20, 2014 /CNW/ - Milestone Apartments Real
Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today
announced that it has filed a preliminary base shelf prospectus with
the securities regulatory authorities in each of the provinces and
territories of Canada. The preliminary base shelf prospectus has not
yet become final for the purpose of the sale of securities. The
intention of the base shelf prospectus is to allow the REIT to more
quickly access capital when market opportunities permit.
Once receipts for the final base shelf prospectus are obtained from the
applicable securities regulators, the final base shelf prospectus will
be 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. Any issue 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.
No securities may be sold nor may offers to buy be accepted prior to the
time at which receipts for the final base shelf prospectus are obtained
from the applicable securities regulators. 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 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 preliminary base shelf prospectus of the
REIT dated August 20, 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
