Landmark Apartment Trust, Inc. Files Registration Statement for Proposed Initial Public Offering

Landmark Apartment Trust, Inc. (“Landmark”), 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, today 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 $375,000,000, 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% Series D Cumulative Non-Convertible Preferred Stock, par value $0.01 per share, (ii) redeem all of its outstanding 9.25% 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.

About Landmark Apartment Trust:

Landmark Apartment Trust (“LAT”) is a multifamily real estate investment trust (REIT) with assets located in select metropolitan areas throughout the Southern United States. The Company owns or has an ownership position in approximately 26,000 apartment units and provides management services for an additional 1,700 units owned by affiliates. LAT aims to unlock hidden value and unrealized cash flow through the below market acquisition and repositioning of mid-income multifamily properties in targeted Southern markets, where the management team can apply its expertise to create a competitive advantage. For more information about LAT please visit http://www.latapts.com/.

Cautionary Statement Regarding Forward-Looking Statements

Historical results and trends should not be taken as indicative of future operations. Some of our statements contained in this Press Release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Actual results may differ materially from those included in the forward-looking statements. We intend those forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations, are generally identifiable by use of the words “expect,” “project,” “may,” “will,” “should,” “could,” “would,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “potential” or the negative of such terms and other comparable terminology. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations, our financial statements and future prospects on a consolidated basis include, but are not limited to: the availability of financing and the attractiveness of its terms; changes in economic conditions generally and the real estate market specifically; changes in interest rates; competition in the real estate industry generally and the apartment community sub-industry specifically; the supply and demand for operating properties in our target market areas; legislative and regulatory changes, including changes to laws governing the taxation of real estate investment trusts, or REITs; and changes in accounting principles generally accepted in the United States of America, or GAAP, or in policies and guidelines applicable to REITs. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning us and our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the Securities and Exchange Commission, or the SEC, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. We disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150519006201/en/