Equity Residential has had its eye on the Archstone portfolio for a while now. But after several unsuccessful bids to obtain a controlling stake in the Lehman Brothers–owned Archstone, Chicago-based Equity has finally gotten the big prize it's been after.

In an agreement announced today with Lehman, Equity will become the new owner of a 60 percent stake in Archstone’s assets and liabilities. The remaining 40 percent was snatched up by Arlington, Va.–based AvalonBay in a partnership that hands over approximately $16 billion in aggregate to Lehman from the two multifamily powerhouses. The transaction is set to close during the first quarter of 2013 and will set the acquisitions bar astronomically high for next year.

Here’s a look at exactly where and how many new units each REIT will be adding once the ink dries on this gargantuan deal:
 

Equity Residential

Market

Number of Properties

Number of Units

Washington, D.C.

24

7,578

San Francisco

14

4,827

Southern California

12

3,374

New York

10

2,638

Boston

8

1,984

Seattle

7

1,841

South Florida

1

196

All other markets

2

672

 

78

23,110

AvalonBay

Market

Number of Properties

Number of Units

New England

2

548

Metro N.Y./N.J.

4

1,573

Mid-Atlantic

18

5,311

Pacific Northwest

2

588

Northern California

9

3,251

Southern California

23

8,507

Noncore

2

778

Development

6

1,666

 

66

22,222