Starwood Capital Group To Purchase National Multifamily Portfolio For $5.365B In The Largest Non-Hotel Acquisition In The Firm's History

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Go back to Starwood Capital Group To Purchase National Multifamily Portfolio For $5.365B In The Largest Non-Hotel Acquisition In The Firm's History

Equity Residential (EQR) Tops Q3 FFO by 1c/Share; Boosts FY15 Outlook

October 26, 2015 6:20 AM EDT

Equity Residential (NYSE: EQR) reported Q3 FFO of $0.89, $0.01 better than the analyst estimate of $0.88. Revenue for the quarter came in at $0 versus the consensus estimate of $689.4 million.

Equity Residential sees Q4 2015 FFO of $0.89-$0.93, versus the consensus of $0.91.

Equity Residential sees FY2015... More

Starwood to Acquire Apartment Portfolio from Equity Residential (EQR) in $5.37B Deal

October 26, 2015 6:18 AM EDT

Starwood Capital Group, a leading global private investment firm, announced that Starwood Global Opportunity Fund X (SOF X), through a controlled affiliate, has entered into an agreement to acquire an institutional-quality portfolio of 23,262 apartment units in 72 communities across the United States from Equity Residential (NYSE: EQR). Expected to close in the first quarter of 2016, the acquisitionvalued at $5.365 billionis the largest non-hotel purchase in Starwood Capital Group's history.

Comprising a mix of mid-rise and garden-style apartment buildings, the portfolio's assets are located in five statesincluding major concentrations in South Florida, Denver, Colorado,... More