News
EQR WON'T INVEST HERE
April 25, 2011
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| Equity Residential might be based in the Windy City, but it doesn't own a single apartment building here. Speaking at the DePaul Real Estate Alumni Alliance event Thursday, EQR's David Neithercutsaid the company would need to buy six to eight buildings to make a portfolio in the city worthwhile. The REIT is building its presence elsewhere—it just acquired The Pegasus, a rehabbed office building (now an apartment) in downtown LA. After delevering in '09, the company's in acquisition mode again, David said. |
