US REITS AvalonBay, Equity Residential close to merger, Bloomberg News reports

Equity Residential
AvalonBay Communities, Inc.

Equity Residential

EQR

0.00

AvalonBay Communities, Inc.

AVB

0.00

May 20 (Reuters) - U.S.-based real estate investment trusts AvalonBay Communities AVB.N and Equity Residential EQR.N are nearing a merger, Bloomberg News reported on Wednesday, citing people familiar with the matter.

  • An announcement on the deal could come as soon as Thursday, Bloomberg News said.

  • AvalonBay has a market value of about $26 billion and Equity Residential is valued at nearly $25 billion, according to LSEG data.

  • Reuters could not immediately verify the report. AvalonBay Communities and Equity Residential did not immediately respond to Reuters' request for comment.

  • AvalonBay owns or holds ownership interest in 319 apartment communities with 98,271 apartment units in the U.S., while Equity Residential owns 312 rental properties consisting of 85,211 apartments.


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