What the AvalonBay, Equity Residential megamerger means for the apartment industry and rents
CNBC Top News ·
The AvalonBay Communities Inc. Park Loggia condominium, center, is reflected in a building in New York, U.S. Mark Abramson | Bloomberg | Getty Images The biggest ever merger of real estate investment …
The AvalonBay Communities Inc. Park Loggia condominium, center, is reflected in a building in New York, U.S. Mark Abramson | Bloomberg | Getty Images The biggest ever merger of real estate investment trusts — the combination of Equity Residential and AvalonBay, announced Thursday — has investors and analysts alike left with dropped jaws. The all-stock merger will have a market capitalization of about $52 billion and a total enterprise value of approximately $69 billion, according to a release. …
Original source: CNBC Top News