Equity Residential (NYSE:EQR) has announced that it has closed the acquisition of Longacre House. The Longacre House is a 293 unit apartment tower that is located in Midtown Manhattan. Equity previously acquired two Manhattan apartment towers, RiverTower and 777 Sixth Avenue on February 1, 2010. The company currently owns and operates 26 properties. The properties consist of 7,320 apartment units in the New York Metro Area. They also include 14 properties that consist of 3,825 apartment units in Manhattan.
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Equity Residential (EQR) is a real estate investment trust (REIT). The Company is focused on the acquisition, development and management of apartment properties in United States markets. It is a real estate company and is an owner of multifamily properties in the United States. As of December 31, 2009, the Company owned all or a portion of 495 properties in 23 states and the District of Columbia consisting of 137,007 units. In February 2010, the Company, as part of a three-property transaction in New York City, has acquired two high-rise apartment towers.
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