Apartment REIT Equity Residential Selling Assets for $5.4 Billion

Equity Residential (NYSE: EQR) announced Oct. 26 that it has agreed to sell more than 23,000 apartment units in mainly suburban locations to private equity firm Starwood Capital Group for $ 5.37 billion.

The deal involves 72 properties located in South Florida, Denver, Washington, Seattle and California’s Inland Empire. The sale is expected to close in the first quarter of 2016. Starwood will pay approximately $ 230,634 per unit.


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