Bailey Properties, Summit Housing to Form BSR Trust Through $1B Merger

Bailey Properties LLC and Summit Housing Partners LLC announced a $1 billion merger, creating BSR Trust LLC.

BSR Trust will operate 111 communities totaling 18,700 apartment units in 10 southeastern states, Oklahoma and Texas.

The deal is subject to regulatory approval and project lender consent. HFBE Capital L.P., an affiliate of HFBE Inc., advised Summit Housing on the merger.