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Equity Residential (NYSE: EQR) is a real estate investment trust that specializes in apartment complexes. They are "America's Choice for Apartment Living." They are the largest publicly available real estate company that owns, develops and manages multi-unit housing in the United States. They're based in Chicago.
They have 200,000 apartments, in 400 properties, in 16 states and the District of Columbia. They are in the S&P 500, and were named by FORTUNE magazine as one of America's Most Admired Companies.
Their aquisition strategy is to go after properties with at least 200 units, built after 1990, in major metropolitan or fast growing areas, and prefer all cash transactions. However, they are now focusing more on the cities where they make the most money, and getting away from other locations. And they are expanding, because they believe there will be increased demand for apartments given the continued weakness of the housing market.
Their biggest markets are Orlando Florida, Atlanta Georgia, and Phoenix Arizona.
Equity Residential Properties:
Springs Colony, Chickasaw Crossing, Auvers Village, Sabal Palm at Lake Buena Vista, Estates at Maitland Summit, Lexington Park, Valencia Plantation, Alexandria Parc Vue at Lake Buena Vista, Sabal Palm at Metrowest, Tradition at Alafaya, Grandeville at River Place, Crowntree Lakes, Mission Bay, Barrington Place, Tortuga Bay at Waterford, Cypress Lakes at Waterford, Pine Harbour, Polos East at Waterford, Key Isle at Windermere Apartments, Bishop Park, Shadow Creek, Lexington Farm, Stoneleigh at Deerfield, Lake at Vinings, Paces Station, Windmont, Preserve at Briarcliff, City View, Savannah Midtown, Promenade at Peachtree and Woodland Hills.
Therefore, Equity Residential is a REIT that provides basic needs to people and is well diversified geographically across the United States.
Next: Feldman Mall Properties -- is a REIT that focuses on enclosed retail Class A shopping malls
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