Equity Residential, the largest publicly traded U.S. apartment landlord, agreed to sell 27 properties to Goldman Sachs Group Inc. and Greystar Real Estate Partners LLC for as much as $1.5 billion.
The transaction values the apartments at about $187,000 per unit, Chicago-based Equity Residential said in a statement Monday. The joint venture is obligated to purchase at least $1.38 billion of assets. The 8,010 units are located Florida, Washington, D.C., northern New Jersey, , Phoenix, Denver, Southern California and the San Francisco Bay area.
