Equity Residential

Equity Residential (NYSE:EQR), a real estate investment trust (REIT), engages in the acquisition, development, and management of multifamily properties in the United States. Equity Residential was founded in 1966 by Sam Zell and Bob Lurie, and is headquartered in Chicago, Illinois.

Equity invests in high quality apartment communities located in strategically targeted markets with the goal of maximizing their risk adjusted total return (operating income plus capital appreciation) on invested capital. They seek to maximize the income and capital appreciation of their properties by investing in markets that are characterized by conditions favorable to multifamily property operations and appreciation. They are focused primarily on the six core coastal, high-barrier-to-entry markets of Boston, New York, Washington D.C., Southern California (including Los Angeles, Orange County and San Diego), San Francisco and Seattle.

Equity’s operating focus is on balancing occupancy and rental rates to maximize their revenue while exercising tight cost control to generate the highest possible return to their shareholders. Revenue is maximized by attracting qualified prospects to their properties, cost-effectively converting these prospects into new residents and keeping their residents satisfied so they will renew their leases upon expiration. While they believe that it is their high-quality, well-located assets that bring their customers to them, it is the customer service and superior value provided by their on-site personnel that keeps them renting with Equity and recommending them to their friends.