Hunton & Williams Aids ATA In $485M Apartment Portfolio Buy

Law360, New York (August 6, 2012, 3:44 PM EDT) -- Elco Landmark Residential Holdings LLC and its investment partners have handed over an apartment community portfolio valued at $485 million to Apartment Trust of America Inc., in exchange for interests in its operating partnership, cash and a sizable debt assumption, ATA announced Monday.

The recapitalization deal gives Elco North America, an affiliate of Israeli Elco Holdings Ltd., a $90 million stake in ATA, making it the largest shareholder in the multifamily real estate investment trust, which will be renamed Landmark Apartment Trust of America. The transaction...
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