Why are AvalonBay and Equity Residential combining?
AvalonBay and Equity Residential are combining to create one of the country's leading real estate companies. This combination creates a new and fundamentally stronger company with the differentiated scale, capabilities, and balance sheet strength to enhance the resident experience, redefine leadership in rental housing, and deliver structurally superior earnings growth and value creation for shareholders.
What is the structure of this transaction?
This is a merger of equals – neither company is acquiring the other.
Who will lead the combined company?
Benjamin Schall, President and CEO of AvalonBay, will lead the combined company.
Where will the combined company be headquartered?
The combined company will have dual headquarters in Arlington, VA and Chicago, IL, and intends to have a meaningful and ongoing presence in both locations.
When is the transaction expected to close?
The transaction is expected to be completed in the second half of 2026, subject to shareholder approval and the satisfaction of customary closing conditions.