On June 3, Equity Residential (NYSE:EQR) announced an agreement to purchase 8 garden-style apartment properties in Atlanta, comprising 2,064 units, for a total of $535 million. The acquisition, detailed in an investor update released last week, is expected to close in the second quarter of 2025.
An exterior shot of a newly acquired apartment building, signifying the company’s acquisition of large residential properties.
Equity Residential plans to fund this purchase by selling older assets from its existing coastal markets. The company stated that these well-located suburban properties will complement its current Atlanta portfolio and allow for increased scale and diversification in the market. The REIT anticipates these assets will be accretive to normalized funds from operations/FFO per share starting in the second year of ownership, driven by favorable supply/demand dynamics expected in Atlanta.
CEO Mark Parrell stated during the company’s earnings call in late April that investing in existing assets in Dallas, Denver, and Atlanta presents the best opportunities. For the full year 2025, Equity Residential projects $1.5 billion in acquisitions and $1 billion in dispositions.
Equity Residential is committed to creating communities where people thrive. The company is focused on acquiring, developing, and managing residential properties located in and around dynamic cities that attract long-term renters.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
