Dubai Group sells $1b portfolio.DALLAS, TX: The Milestone Group The Milestone Group is a British media company, which originally had holdings in radio, publishing and television, but now concentrates on its local television stations. Radio stations The Milestone Group used to own five local radio stations in the UK: Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of a large apartment portfolio through the acquisition of the ownership interest from Dubai Investment Group The Dubai Investment Group (DIG) is a subsidiary and member company of Dubai Holding. The company was originally called The Investment Office but was re-named in May 2005 to better reflect its ties to Dubai. . This portfolio of multifamily properties located throughout the Sun Belt is valued at approximately $1 billion. Several properties, approximating 15% of the original portfolio, had been previously sold. The new partnership will pump cash into continued exterior and interior renovation to improve marketability of the property. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Rob Landin, managing partner of The Milestone Group, "This transaction affirms our confidence in the multifamily sector and presents an opportunity for both of us to enhance the existing assets and grow the portfolio in partnership with INVESCO. "We have already seen a dramatic lift in apartment fundamentals, including a surge in demand and higher occupancies." The partners said they plan to pursue other multi-family investment opportunities in markets such as Texas, Florida, Phoenix, Denver and Atlanta. Mark Edelstein, real estate finance chair and partner, and Jeffrey Temple, real estate partner, with law firm Morrison & Foerster LLP LLP - Lower Layer Protocol , represented the Dubai Investment Group in this transaction. |
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