Add-on Acquisition • Real Estate

AvalonBay Communities and Equity Apartments Acquire Archstone Enterprise

On February 27, 2013, AvalonBay Communities and Equity Apartments acquired real estate company Archstone Enterprise for 16.0B USD

Acquisition Context
  • This is AvalonBay Communities’ 12th and Equity Apartments’ 2nd transaction in the Real Estate sector.
  • This is AvalonBay Communities’ and Equity Apartments’ largest (disclosed) transaction.
  • This is AvalonBay Communities’ 12th and Equity Apartments’ 2nd transaction in the United States.

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M&A Deal Summary

Date February 27, 2013
Target Archstone Enterprise
Sector Real Estate
Buyer(s) AvalonBay Communities
Equity Apartments
Deal Type Add-on Acquisition
Deal Value 16.0B USD

Target Company

Archstone Enterprise

United States
Archstone Enterprise LP (“Archstone”), which consist principally of a portfolio of high quality apartment communities in major markets in the United States,
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Buyers Overview 2

Buyer

AvalonBay Communities

Arlington, Virginia, United States

Category Company
Founded 1975
Sector Real Estate
Employees2,928
Revenue 2.9B USD (2024)
DESCRIPTION

AvalonBay Communities develops, redevelops, acquires, and manages high-quality apartment communities in the high barrier-to-entry markets of the United States. The Company has several communities under construction and reconstruction, as well as holding future development rights for other communities. AvalonBay Communities was founded in 1975 and is based in Arlington, Virginia.


Deal Context for Buyer #
Overall 12 of 13
Sector: Real Estate 12 of 13
Type: Add-on Acquisition 12 of 13
Country: United States 12 of 13
Year: 2013 1 of 1
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-06 Yale Village Townhomes

Rockville,, Maryland, United States

Yale Village Townhomes, a community of 210 rental townhomes. Good schools, transit, employment and shopping are all within close proximity.the community consists of 100% direct-entry rental townhome product averaging 1,923 SF per home.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-16 Market Common Clarendo

Arlington, Virginia, United States

Market Common Clarendo is an operator of shopping centers.

Buy $406M
Buyer

Equity Apartments

Chicago, Illinois, United States

Category Company
Sector Real Estate
Employees2,500
Revenue 3.0B USD (2024)
DESCRIPTION

Equity Apartments is a real estate investment trust (REIT) focused on the acquisition, development and management of apartment properties in the United States growth markets. Equity Apartments is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 2 of 2
Sector: Real Estate 2 of 2
Type: Add-on Acquisition 2 of 2
Country: United States 2 of 2
Year: 2013 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-08-19 Merry Land & Investment Co.

Chicago, Illinois, United States

Merry Land & Investment Co. a real estate company.

Buy -