|Traded as||NYSE: EQR
S&P 500 Index component
|David Neithercut, CEO
Sam Zell, Chairman
Mark J. Parrell, CFO
|Revenue||$2.471 billion (2017)|
|$0.628 billion (2017)|
|Total assets||$20.570 billion (2017)|
|Total equity||$10.469 billion (2017)|
Number of employees
|Footnotes / references
As of December 31, 2017, the company owned or had investments in 305 properties consisting of 78,611 apartment units in Boston, New York City, Washington DC, Seattle, San Francisco, and Southern California.
In 1993, the company acquired a large portfolio of properties from Barry Sternlicht in exchange for a 20% stake in the company. Sternlicht had acquired the properties via government auctions after the savings and loan crisis.
In 1997, the company acquired Wellsford Residential Property Trust for $620 million in stock and the assumption of $346 million of debt and acquired Evans Withycombe Residential for $625 million in stock and the assumption of $432 million in debt.
In 1998, the company acquired a portfolio of 5,774 apartments from Lincoln Property Company for $465 million and acquired Merry Land, which owned 34,990 units in the southeast United States, for $1.17 billion in stock as well as $656 million in debt and $270 million in preferred stock.
In 1999, the company acquired Lexford Residential Trust for $203 million in stock and the assumption of $530 million of debt. Lexford owned mainly one-story affordable housing units, rented to households with incomes between $25,000 and $35,000.
In January 2003, CEO Douglas Crocker retired. During his tenure, the company increased its ownership from 22,000 apartments to 227,000 apartments.
Equity Residential was sued in a class action in 2017 due to allegations that it charged late payment fees in violation of California law. Washington, D.C. attorney general Karl Racine also filed a suit against the company in December 2017, challenging the rent concessions offered by Equity Residential for the purpose of attracting new tenants.
- "Equity Residential 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.
- "NMHC 50 Largest Apartment Managers". National Multifamily Housing Council.
- "Our Story".
- Goldfarb, Jeffrey (October 26, 2015). "Keep one eye on Sam Zell's "For Sale" sign". Reuters.
- "SCHEDULE 14A". U.S. Securities and Exchange Commission.
- Gallun, Alby (June 7, 2007). "Veteran apartment buyer Crocker now in residence at Transwestern". Crain Communications.
- "Apartment Deal For Zell's REIT". The New York Times. Bloomberg News. January 18, 1997.
- Allen, J. Linn (January 18, 1997). "Zell-backed Trust To Buy Wellsford". Chicago Tribune.
- "EQUITY RESIDENTIAL TO PAY $625 MILLION FOR RIVAL". The New York Times. Dow Jones & Company. August 29, 1997.
- "EQUITY RESIDENTIAL IN DEAL WITH LINCOLN PROPERTY". The New York Times. Dow Jones & Company. May 30, 1998.
- Holson, Laura M. (July 9, 1998). "Equity Residential to Acquire Merry Land for Stock and Debt". The New York Times.
- "Zell REIT Announces Agreement To Buy Merry Land & Investment". The Wall Street Journal. July 8, 1998.(subscription required)
- "EQUITY RESIDENTIAL IN $203 MILLION DEAL FOR LEXFORD". The New York Times. Bloomberg News. July 2, 1999.
- "Equity Residential Added to S&P 500" (Press release). PRNewswire. December 3, 2001.
- "Change in S.& P. 500". Bloomberg News. The New York Times. November 28, 2001.
- "Equity Residential Announces Sale of Its Lexford Housing Division for $1.1 Billion" (Press release). Business Wire. June 28, 2006.
- Ball, Brian R. (July 10, 2006). "Equity Residential selling Lexford for $1.09 billion". American City Business Journals.
- "Equity Residential Announces Closing of $9 Billion Archstone Acquisition" (Press release). Business Wire. February 27, 2013.
- "Equity Residential Agrees to Sell $1.5 Billion of Assets to a Joint Venture of Goldman Sachs and Greystar" (Press release). Business Wire. January 7, 2013.
- "Equity Residential Announces Closing of Sale of 23,262 Apartment Units to Starwood Capital Group for $5.365 Billion" (Press release). Business Wire. January 27, 2016.
- "Class-action lawsuit against Equity Residential to proceed in California | Real Estate Weekly". Real Estate Weekly. 2017-12-12. Retrieved 2018-04-18.
- "Calif. Tenants Get Class Cert. In Late Fees Suit - Law360". www.law360.com. Retrieved 2018-04-18.
- "D.C. Sues Landlord of Rent-Controlled Building in Northwest for Offering Problematic Discounts". Washington City Paper. Retrieved 2018-04-18.