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iStar Financial Inc. Message Board

  • tradingbot2004 tradingbot2004 Jul 8, 2013 9:49 AM Flag

    Landmark Apartment Trust of America issued preferred stock to funds affiliated with Blackstone and iStar Financial, ahead of an IPO

    Elco Holdings Ltd. (TASE: ELCO), controlled by chairman Georg Salkind, has taken another step to float its multifamily business in the US. Landmark Apartment Trust of America Inc. (LATA), a REIT in which Elco owns a 32.5% stake, raised $219 million in a private placement of preferred stock to funds affiliated with Blackstone Group LP (NYSE: BX) and iStar Financial Inc. (NYSE: SFI). The investment could rise to $285 million if certain conditions are met.