Information was collected from SEC filings, investor presentations, and other publicly available sources.
Transaction Summary as of June 30, 2024
- EQR sold 5 properties comprised of 831 rental units. Cumulative sales totaled $334,000,000 with a net gain of appoximately $228,000,000. The properties sold at a blended cap rate (disposition yield) of 5.7%.
- As of June 30, 2024, EQR purchased 1 property for $62,595,000 in Boston, MA at a 5.7% cap rate.
- Subsequent to the end of the second quarter, EQR purchased 2 properties for a combined purchase price of $216,750,000. The acquisitions comprised a total of 644 units between Atlanta and Grapevine, TX.
Dispositions
- January 2024 – Boston, MA Sold One India Street Apartments, a mixed-use 94-unit apartment building built in 1901, for $62.0MM ($660,000 per unit)
- January 2024 – Orange County, CA Sold Regency Plams, a 310-unit apartment complex built in 1969, for $127MM ($410,000 per unit)
- February 2024 – San Francisco, CA Sold Southwood Apartments, a 100-unit apartment complex built in 1985, for $59.9MM ($599,000 per unit)
- March 2024 – San Francisco, CA Undisclosed apartment complex comprising 165 units sold for approx. $36.6MM ($221,000 per unit) at a blended 6.2% cap rate the March ’24 Washington, D.C. sale
- March 2024 – Washington, D.C. Sold Marlowe Apartments, a 162-unit apartment complex built in 1987, for $48.5MM ($299,000 per unit) at a 6.2% blended cap rate with the March ’24 San Francisco sale
Acquistions
- May 2024 – Boston, MA Bought Helix Apartments, a 160-unit apartment complex built in 2023, for $62.6MM ($391,000 per unit) at a 5.7% cap rate according to the Q2 2024 10-Q
- July 2024 – Grapevine, TX Bought Trailwinds Grapevine, a 324-unit apartment complex built in 2023, for $90.5MM ($279,000 per unit)
- July 2024 – Atlanta, GA Bought Iris O4W, a 320-unit apartment complex built in 2023, for $126.3MM ($395,000 per unit)
Under Contract
- August 2024 – Denver, CO Undisclosed apartment complex with 202 units under contract for $77MM ($381,000 per unit)