Landmark Apartment Trust Files Registration Statement for Proposed IPO

Information about the proposed IPO.

Tampa, Fla.—Landmark Apartment Trust Inc., a Maryland corporation organized to qualify as a real estate investment trust (REIT), with assets consisting of mid-market, garden-style apartments primarily located in the South and certain Texas markets of the United States, announced that it has filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission (SEC) relating to its proposed initial public offering (IPO) of Class A Common Stock, par value $0.01 per share, for a proposed aggregate offering amount of $375 million, which will include Class A Common Stock sold by certain selling stockholders. In connection with the IPO, Landmark intends to effect a recapitalization of its common stock, in which its outstanding common stock will be redesignated as Class A Common Stock. The number of shares to be sold and the price range for the IPO have not yet been determined. Landmark plans to list its Class A Common Stock on the New York Stock Exchange under the ticker symbol “LAT.”

The IPO is expected to commence after the SEC completes its review process, subject to market and other conditions. Landmark intends to use the net proceeds from the offering primarily to (i) redeem all of its outstanding 8.75 percent Series D Cumulative Non-Convertible Preferred Stock, par value $0.01 per share, (ii) redeem all of its outstanding 9.25 percent Series E Cumulative Non-Convertible Preferred Stock and (iii) repay its promissory notes, with any remaining proceeds being used for general corporate purpose.

Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Capital Markets Inc. are acting as joint book-running managers for the IPO.

The registration statement has not yet become effective with the SEC. The securities referenced above may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.