Equity Residential (EQR) Tops Q3 FFO by 1c/Share; Boosts FY15 Outlook
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Starwood Capital Group To Purchase National Multifamily Portfolio For $5.365B In The Largest Non-Hotel Acquisition In The Firm's History
October 26, 2015 6:05 AM EDTGREENWICH, Conn., Oct. 26, 2015 /PRNewswire/ --Â Starwood Capital Group, a leading global private investment firm, announced today 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... More
Equity Residential Reports Third Quarter 2015 Results
October 26, 2015 6:00 AM EDTSame Store Revenue Increased 5.4%
Same Store NOI Increased 6.7%
Normalized FFO per Share Increased 8.5%
CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR) today reported results for the quarter and nine months ended September 30, 2015. All per share results are reported as available to common shares on a diluted basis.
It remains a very good time to be in the apartment business as continued strong demand for our high quality, well located rental apartments has made 2015 another exceptional year for Equity... More
Equity Residential Announces Agreement to Sell 23,000 Apartment Units to Starwood Capital Group for $5.365 Billion
October 26, 2015 6:00 AM EDTWill Exit South Florida and Denver Markets
CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYSE: EQR) today announced that the company has entered into an agreement to sell 72 properties consisting of 23,262 apartment units to Starwood Capital Group, through a controlled affiliate, for $5.365 billion, or approximately $230,634 per unit on average, and a capitalization rate of 5.5%. The sale is expected to close in the first quarter of 2016.
This is an extremely opportune time for Equity Residential to monetize our investments in this portfolio of assets, said David J. Neithercut, Equity Residentials... More
