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To summarize the best multifamily REITs today,
Multifamily Monitor has created this top-10 survey measured by the equity market capitalization value of their portfolios. In each profile that follows, Multifamily Monitor has secured the most updated information and has surveyed the top companies in the nation. The valuation of the REITs are ranked according to ASSETrac, Inc., a Bloomfield, NJ.-based real estate information service. In 1997 alone, mergers and acquisitions made headlines in the consolidation of the industry with year-end numbers reflecting 34 REITs worth $23.22 billion. Multifamily REITs have generated some of the highest volume deals on Wall Street and 1998 should be no exception, with many privateto-public transactions and more public-to-public deals than in 1997. In fact, since 1993 (24 REITs worth $5.54 billion), the REIT marketplace has grown by $17.67 billion in only four years.
Equity Residential Property Trust
Market capitalization:
$7.6 billion
Number of units: 120,000
Two North Riverside Plaza
Chicago, Ill. 60606
(312) 474-1300
Chairman: Sam Zell
President & CEO:
Douglas Crocker II
Equity Residential Properties Trust (EQR) is the largest owner and operator of multifamily properties traded on the New York Stock Exchange. It is the only multifamily REIT that combines a national presence with strong local management and expertise. EQR is a fully integrated operating company, organized as a selfadministered, self-managed equity real estate investment trust. EQR is engaged in the acquisition operation and long-term ownership of apartment properties throughout the United States. Major acquisitions during the last quarter of 1997 were 10,724 units on 45 properties from CARPET for $609 million and 5,015 units on 17 properties from Ameritech Pension Trust for $292.4 million.
Security Capital Pacific 2
Market capitalization:
$2.8 billion
Number of units: 59,794
7670 S. Chester St.
Suite 100
Englewood, Colo. 80112
(303) 708-5959
Chairman: Scot Sellers
President & CEO: Ronald
Blankenship
Security Capital Pacific (formerly Property Trust of America) is an equity real estate investment trust which primarily acquires, develops, operates and owns income producing multifamily properties in the Western United States. The trust seeks to...