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Equity Residential was sued in a class action in 2017 due to allegations that it charged late payment fees in violation of California law. [20] [21]In 2022, the company agreed to pay approximately $2 million to settle a lawsuit filed by Attorney General for the District of Columbia Karl Racine alleging that the company offered misleading rent discounts on a rent-controlled building in ...
The company also sold a two-building medical office campus in San Diego, California for $97 million. [17] In June 2018, the company changed its name from Equity Office to EQ Office. [18] In 2019, the company purchased Seattle office buildings U.S. Bank Center and Docusign Tower for $1.2 billion. [19]
In 1991, in partnership with Chilmark Partners, Zell co-founded Zell/Chilmark, a $1 billion investment fund, to invest in distressed securities.That year, it acquired $550 million in junk bonds and vendor claims against Carter Hawley stores, the parent of Broadway Stores, eventually taking control; it was sold to Federated Stores (now Macy's, Inc.) in 1995.
Equity Residential to Participate in ISI Real Estate Conference CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYS: EQR) today announced that David J. Neithercut, the company's President and CEO ...
Though Equity Residential (EQR) has a solid portfolio and is leveraging on technology for sales and service, its Q3 results will likely reflect choppy rental housing demand in a number of its markets.
Equity Residential to Participate in Barclays Global Financial Services Conference CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYS: EQR) today announced that David J. Neithercut, the company's ...
In 2007, the company was added to the S&P 500. [12] In 2011, Timothy J. Naughton was named CEO, and the additional role of chairman in January 2013. [10] [13] On February 27, 2013, AvalonBay Communities and Equity Residential closed a $9 billion deal to acquire Archstone from Lehman Brothers. [14]
Equity Residential (EQR) is well-poised to grow on portfolio rebalancing, improving demand and a healthy balance sheet. However, stiff competition and a flexible working environment are key concerns.