SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Salkind Michael (Last) (First) (Middle) 3505 E. FRONTAGE ROAD, SUITE 150 (Street) TAMPA FL 33607 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Landmark Apartment Trust, Inc. [ NONE ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/14/2014
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								0(1)	I(5)	Elco Landmark Residential Holdings LLC
Common Stock	11/14/2014		P		178,506	A	$8.15	1,421,834.734	I(5)	Elco North America Inc.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Operating Partnership Units	(2)							(2)	(3)	Common Stock	0		0(4)	I(5)	Elco Landmark Residential Holdings LLC
Operating Partnership Units	(2)							(2)	(3)	Common Stock	4,347,320		4,347,320	I(5)	ELCO LR OPT II REIT LP
Operating Partnership Units	(2)							(2)	(3)	Common Stock	3,548,002		3,548,002	I(5)	ELCO LR OPT I REIT LP
Operating Partnership Units	(2)							(2)	(3)	Common Stock	2,180,036.56		2,180,036.56	I(5)	Elco Landmark Residential Holdings II LLC
Operating Partnership Units	(2)	11/14/2014		P		373,641		(2)	(3)	Common Stock	373,641	$8.15	18,399,860.259	I(5)	Elco North America Inc.

Explanation of Responses:

1. In prior reports, the reporting person reported beneficial ownership of 1,399,794.734 shares of common stock of the issuer held by Elco Landmark Residential Holdings LLC ("ELRH"). On November 13, 2014, ELRH made a pro rata distribution to its members of all 1,399,794.734 shares of common stock of the issuer held by it, so that, upon such distribution, Elco North America Inc., a member of ELRH, received 1,221,288.734 shares of common stock of the issuer.

2. The operating partnership units ("OP Units") represent units of limited partnership interests in the Operating Partnership. The OP Units have the rights and preferences as set forth in the partnership agreement of the Operating Partnership, as amended (the "Partnership Agreement"), and do, following a 12-month holding period, become redeemable, subject to certain limitations, in exchange for either (i) shares of common stock of the issuer on a one-for-one basis or (ii) a cash amount equal to the product of (A) the number of redeemed OP Units, multiplied by (B) the "cash amount" (as defined in the Partnership Agreement), provided, however, if the common stock of the issuer has not become listed or admitted to trading on any national securities exchange at the time of the redemption, the cash amount, notwithstanding anything to the contrary, shall be $8.15 per redeemed OP Unit.

3. The OP Units do not have an expiration date.

4. In prior reports, the reporting person reported beneficial ownership of 20,974,263.669 OP Units held by ELRH. On November 13, 2014, ELRH made a pro rata distribution to its members of all 20,974,263.669 OP Units held by it, so that, upon such distribution, Elco North America Inc., a member of ELRH, received 18,026,219.259 OP Units.

5. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interests therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Remarks:

	/s/ Michael Salkind	11/17/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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