HFBE Oversees $1B Merger Of 2 Residential Real Estate Cos.

Law360, New York (May 11, 2012, 4:53 PM EDT) -- Little Rock, Ark.-based Bailey Properties LLC and Montgomery, Ala.-based Summit Housing Partners LLC have entered into a $1 billion merger to create new entity BSR Trust LLC, Houston-based private investment banking firm HFBE Capital LP announced Thursday.

BSR Trust will oversee 111 residential communities containing about 18,700 apartment units across 10 states in the southeastern U.S., as well as Oklahoma and Texas, HFBE said.

"The merger provides BSR Trust with an enhanced geographical footprint," Texas-based HFBE said in a statement.

HFBE Senior Managing Director David S....
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