Last week’s announcement by Chicago-based Equity Residential (EQR) that it entered into an agreement to spend $1.325 billion in cash for a 26.5 percent ownership interest in Denver-based Archstone, which owns 48,922 units and has 1,332 units under construction, took some people by surprise.
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According to a geographic exposure study recently conducted by Charlottesville, Va.-based SNL Financial, since 2007, Archstone has decreased its overall asset exposure in Virginia and California, while increasing its asset bulk in Georgia, Florida, and Texas.
No matter what road you're on in life or in business, a diverse mix can make sure you're around to succeed.
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CWCapital continues its aggressive growth strategy as it works on acquiring Rockwood Real Estate Advisors, a best-in-class equity house that would complement the company's lending operations.
Who says the high barrier to entry acquisition market is all dried up? If recent deals by Dallas, Tex.-based Behringer Harvard, the Irvine, Calif.-based Bascom Group, and Chicago’s Waterton Residential and Equity Residential are any indication, A-class assets in first tier metro markets are still...
Saint-Gobain's investment kickstarts Sage Electrochromics' new plant construction.
Irvine, Calif.-based architectural firm KTGY Group has acquired CAX, a Tysons Corner, Va.-based architecture group under the leadership of Rohit Anand.
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In late August, when Richmond, Va.-based Grubb & Ellis Apartment REIT agreed to take over the assets of Oakton, Va.-based Mission Residential—along with agreements totaling $182 million to acquire nine multifamily properties from affiliates of Mission’s MR Holdings—chairman, CEO, and chief...
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The plight of Archstone has been a widely-debated topic in the industry for the past couple of years. The apartment giant, which was No. 8 on the Multifamily Executive Top 50 Owners list with 62,741 units, was taken private by in a Lehman Brothers Holdings with $22 billion leveraged buyout in 2007...
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A lot of apartment REITs have been active over the past few months. Few have been as aggressive as Memphis-based Mid-America Apartment Communities. In August and September, the company announced five acquisitions. Mid-America CEO Eric Bolton took some time to chat with Multifamily Executive senior...
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Highlands Ranch, Colo.-based UDR is offering 16 million shares of its common stock priced at $20.35 per share to generate proceeds of approximately $312.1 million (and possibly up to $359.0 million), the multifamily REIT announced today. Proceeds from the sale will be used to pay down debt as well...
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Global information services company Experion recently acquired RentBureau, one of the nation's largest nuetral rental credit bureaus. The acquistion has many positive long-term prospects, including helping renters who are unscorable through traditional credit bureaus get their foot in the door to...
Fortress Investment Group has acquired CWCapital in the third major acquisition of a special servicer this year.
Fairfield bankruptcy expedited, Equity expands its New York portfolio, and more industry news.
New company, called Aquatic, announces merger at IBS 2010, introduces new accessible bathtub.
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In a move that caps five years of frenzied expansion, FirstService Real Estate Advisors and Colliers International have combined their operations and global real estate services platforms.
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New Carrollton, Texas-based RealPage is expected to announce its acquisition of Washington, D.C.-based EverGreen Solutions this week, RealPage CEO Steve Winn confirmed in an exclusive interview with Multifamily Executive today. One of the industry's leading tech consultancy and software...
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This month, Carrollton, Texas-based multifamily technology firm RealPage announced its hire of Michael Britti as senior vice president of the company’s newly formed mergers and acquisitions group. Britti will immediately assume all major RealPage M&A efforts from RealPage founder and CEO Steve Winn.
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While deals are still few and far between as players wait for compression in the bid/ask spread or the distressed floodgates to bust open, fee management companies with an ownership component are prepping not only by raising cash, but by getting local as well.