AvalonBay Equity Residential merger deal 2026
AvalonBay Communities and Equity Residential have announced a merger that will create a company valued at approximately $69 billion. The merger will result in AvalonBay shareholders owning about 51.2% of the new entity, with the deal expected to close in the second half of 2026. Benjamin Schall will lead the merged company, which will maintain dual headquarters in Arlington, Virginia, and Chicago, Illinois.
- ▪Equity Residential and AvalonBay Communities agreed to merge in an all-stock deal.
- ▪The combined company will have an enterprise value of approximately $69 billion and over 180,000 rental apartments.
- ▪The merger is expected to yield $175 million in gross synergies.
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AvalonBay Equity Residential merger deal 2026 Quartz · Bloomberg / Getty Images Cris Tolomia Thu, May 21, 2026 at 6:22 AM PDT 2 min read Equity Residential and AvalonBay Communities agreed to merge in an all-stock deal that would create a combined company with an enterprise value of approximately $69 billion and more than 180,000 rental apartments, the companies said Thursday. Each AvalonBay share will be exchanged for 2.793 shares of Equity Residential common stock under the merger agreement. That exchange ratio would give AvalonBay investors a roughly 51.2% stake in the new entity, with Equity Residential shareholders holding the remaining 48.8%. The pro forma equity market capitalization of the combined company would be approximately $52 billion.
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