Merger of equalsMay 21, 2026Completed
🇺🇸 United States
ACAvalonBay Communities, Inc.EREquity Residential
Real Estate › REITs
Deal valueUndisclosed
AnnouncedMay 21, 2026
ConsiderationStock
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Equity Residential and AvalonBay Communities entered into a definitive all-stock merger of equals agreement in which AvalonBay shareholders receive 2.793 Equity Residential shares per AvalonBay share. The combined company has a pro forma equity market capitalization of about $52 billion and more than 180,000 apartments.
Deal rationale
The companies say the combination creates a multifamily leader with scale, $125 million of net synergies, a stronger balance sheet and a larger development platform to drive earnings growth.
AI-generated from the SEC filingCompletedReal Estate › REITsUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | Undisclosed | |
|---|---|---|
| Enterprise value | Undisclosed | |
| Consideration | Stock |
Advisors
Buy-side
BOBank of AmericaCPCenterview PartnersMSMorgan Stanley
Sell-side
GSGoldman SachsJPJ.P. MorganWFWells Fargo
Parties
Target
ACAvalonBay Communities, Inc.
- Headquarters
- United States
- Ticker
- AVB