Vivmark Residential Formed via Merger of AvalonBay and Equity Residential

Details

and Equity Residential, effective August 17, 2026. The new company, with an equity market capitalization of approximately $51 billion, will trade on the NYSE under the ticker symbol VMRK starting August 18, 2026. The merger resulted in a reconstituted board of fourteen trustees and a new executive team, including Benjamin W. Schall as CEO, Michael L. Manelis as COO, and Kevin P. O'Shea as CFO. The merger also involved the conversion of AvalonBay shares into Vivmark shares at a ratio of 2.793 to 1, with former AvalonBay shareholders owning approximately 51% and former Equity Residential shareholders owning approximately 49% of the new company. Vivmark Residential expects to deliver a current yield to investors through the payment of an initial expected annualized dividend of $2.81 per share.

Items reported

About Equity Residential

Equity Residential is a real estate investment trust that focuses on the acquisition, development, and management of high-quality rental apartment properties in the United States. The company primarily concentrates its portfolio in dense urban and close-in suburban markets with strong employment and housing demand, including Southern California, San Francisco, Washington, D.C., New York City, Boston, Seattle, Denver, Atlanta, Dallas/Fort Worth, and Austin. Equity Residential generates income mainly through leasing apartment units to residents, complemented by related fees and services associated with its communities. Its properties typically target higher-end, professionally managed rental housing, serving working professionals, families, and urban households. Headquartered in Chicago, Illinois, and founded in 1969, Equity Residential is considered one of the larger owners and operators in the U.S. multifamily residential market, providing investors with exposure to the apartment sector through a diversified, institutionally managed portfolio of rental communities across multiple major metropolitan areas.