In payment for Grove's assets, which consist of 62 propertiestotaling 7,526 units, Equity Residential will pay $174.7 million incash as well as issue 344,142 operating partnership units. As partof the deal, Equity Residential paid off approximately $46 millionand assumed approximately $191 million of Grove debt.
Equity Residential now owns or has an interest in 1,102properties consisting of 225,443 units in 35 states.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
