Equity Residential (EQR) Tops Q3 FFO by 1c/Share; Boosts FY15 Outlook
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Starwood to Acquire Apartment Portfolio from Equity Residential (EQR) in $5.37B Deal
October 26, 2015 6:18 AM EDTStarwood 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
