First Trade Date for Equity Residential
| Company Name | First Trade Date (yyyy-mm-dd) |
| Equity Residential | 1993-08-12 |
| Company Name | Symbol |
| Equity Residential | EQR |
| History and Business of Company (this information may include date of incorporation) | |
|
Equity Residential ("EQR"), formed in March 1993, is a fully integrated real estate company engaged in the acquisition, development, ownership, management and operation of multifamily properties. EQR has elected to be taxed as a real estate investment trust ("REIT"). The Company is one of the largest publicly traded REIT's and is the largest publicly traded REIT owner of multifamily properties (based on the aggregate market value of its outstanding Common Shares, the number of apartment units wholly owned and total revenues earned). The Company's corporate headquarters are located in Chicago, Illinois and the Company also leases (under operating leases) approximately thirty-five divisional, regional and area property management offices throughout the United States. EQR is the general partner of, and as of December 31, 2003 owned an approximate 92.7% ownership interest in, ERP Operating Limited Partnership, an Illinois limited partnership (the "Operating Partnership"). The Operating Partnership is, directly or indirectly, a partner, member or shareholder of numerous partnerships, limited liability companies and corporations which have been established primarily to own fee simple title to multifamily properties or to conduct property management activities and other businesses related to the ownership and operation of multifamily residential real estate. References to the "Company" include EQR, the Operating Partnership and each of the partnerships, limited liability companies and corporations controlled by the Operating Partnership or EQR. As of December 31, 2003, the Company owned or had investments in 968 properties in 34 states consisting of 207,506 units. The ownership breakdown includes: Properties Units Wholly Owned Properties 849 178,150 Partially Owned Properties (Consolidated) 35 6,778 Unconsolidated Properties 84 22,578 968 207,506 The Company has approximately 6,000 employees as of March 1, 2004. An on-site manager, who supervises the on-site employees and is responsible for the day-to-day operations of the property, directs each of the Company's properties. An assistant manager and/or leasing staff generally assist the manager. In addition, a maintenance director at each property supervises a maintenance staff and/or contractors whose responsibilities include a variety of tasks, including responding to service requests, preparing vacant apartments for the next resident and performing preventive maintenance procedures year-round. | |
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