Hogan Lovells Advises Equity Residential in US$16 Billion Acquisition of Archstone Enterprise LP
26 November 2012
WASHINGTON, D.C., 26 November 2012 – Hogan Lovells announced today that it is advising Equity Residential on the US$16 billion acquisition of Archstone Enterprise LP (Archstone) from Lehman Brothers Holding, Inc.
Equity Residential is partnering with AvalonBay Communities, Inc. (AvalonBay) to jointly acquire Archstone. Under the terms of the agreement, Equity Residential will acquire approximately 60 percent of Archstone’s assets and liabilities and AvalonBay will acquire the remaining 40 percent.
Archstone’s portfolio consists principally of high-quality apartment properties in major markets throughout the United States. The transaction is expected to close during the first quarter of 2013. Hogan Lovells previously advised Archstone in its US$23 billion sale to Lehman Brothers and Tishman Speyer in 2007.
Bruce Gilchrist, partner in the Washington, D.C. office, led the Hogan Lovells team, which also included Washington, D.C. partners Warren Gorrell, Prentiss Feagles, Cristina Arumi, Lee Berner, and Olesya Barsukova-Bakar; Michele Harrington (partner, Northern Virginia); Ira Greene (partner, New York); and associates Lauren Bellerjeau (Washington, D.C.), Rishikesh Gadhia (Washington, D.C.), and Hugh Hill (New York).