US Apartment Owners AvalonBay, EQR Said to Discuss Combining (1)

AvalonBay Communities Inc. and Equity Residential are considering a potential combination that could reshape the US apartment market, people familiar with the matter said.

The real estate investment trusts, which are among the biggest apartment developers in the US, have held exploratory talks over what would be one of largest real estate deals ever, according to the people.

AvalonBay and Equity Residential both have market capitalizations of around $25 billion, making them the top apartment REITs in the US when measured by market value.

A tie-up of AvalonBay and Equity Residential — founded by the late real estate legend Sam ...