Archstone was a real estate investment trust that invested in apartments. In 2007, the company was acquired by Tishman Speyer and Lehman Brothers and, in 2013, the company's assets were acquired by

Equity Residential Equity Residential is a publicly traded real estate investment trust that invests in apartments. As of December 31, 2021, the company owned or had investments in 310 properties consisting of 80,407 apartment units in Southern California, San Fr ...

and

AvalonBay Communities AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments. As of January 31, 2021, the company owned 79,856 apartment units in New England, the New York City metropolitan area, the Washington, D.C ...

. At the time of the liquidation of the company in 2013, it owned over 40,000 apartment units.

History

In 1998, Security Capital Pacific Trust and Security Capital Atlantic Inc. merged to form Archstone Communities. The merged company owned 304 properties and 90,166 apartments. Security Capital had been founded by William D. Sanders in 1990. In 2001, the company acquired Charles E. Smith Residential Realty, the apartment company founded by Charles E. Smith and the largest real estate owner in the

Washington, D.C. metropolitan area The Washington metropolitan area, also commonly referred to as the National Capital Region, is the metropolitan area centered on Washington, D.C. The metropolitan area includes all of Washington, D.C. and parts of the states of Maryland, Virgin ...

, in a $2.2 billion transaction. In 2007, the company was acquired by Tishman Speyer and Lehman Brothers in a $22.2 billion transaction. At that time, the company owned interests in 359 apartment communities including 87,667 apartment units. On February 27, 2013,

and

closed a $9 billion deal to acquire the company from Lehman Brothers.

References

{{Reflist, 1 2012 mergers and acquisitions 2007 mergers and acquisitions American companies established in 1946 Defunct real estate companies of the United States Real estate companies established in 1946 American companies disestablished in 2013 Smith family (real estate)