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Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments. As of December 31, 2022, the company owned or had investments in 308 properties consisting of 79,597 apartment units in Southern California , San Francisco , Washington, D.C.
Each year Private Equity International publishes the PERE 100, a ranking of the largest private equity real estate companies by how much capital they have raised for investment in the last five years. In the 2024 ranking, Blackstone Inc. retained top spot. [1]
In 1968, Zell founded the predecessor of Equity Residential and was joined a year later by his former partner, Robert H. Lurie. Lurie died of cancer in 1990 at age 48. [ 12 ] During the 1973–1975 recession , Zell was able to acquire many bankrupt properties for almost nothing as lenders did not want to foreclose and Zell provided financial ...
Archstone was a real estate investment trust that invested in apartments.In 2007, the company was acquired by Tishman Speyer and Lehman Brothers and, in 2013, the company's assets were acquired by Equity Residential and AvalonBay Communities.
In 1993, the company contributed the apartment portfolio to Sam Zell's Equity Residential in exchange for a 20% stake in the company. [7] In 1994, in partnership with Goldman Sachs, the company purchased Westin Hotels & Resorts in a $561 million transaction. [6]
This page was last edited on 24 February 2021, at 15:07 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Samuel Zell (1941–2023), real estate mogul, founder of Equity Group Investments (EQ Office, Equity Residential) [189] See also. Lists of Jewish Americans.
The firm focuses on investments in residential real estate as well as Corporate and Structured Credit. In 2022, the firm was ranked by PERE (under Private Equity International) as the fifteenth largest private equity real estate firm based on total fundraising over the most recent five-year period. [1]