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Overview
Equity Residential is a real estate investment trust (REIT) that specializes in the acquisition, development, and management of high-quality apartment communities across the United States. The company was founded in 1962 and is headquartered in Chicago, Illinois. Equity Residential's portfolio consists of over 300 apartment communities and approximately 80,000 apartment units. These communities are located in major metropolitan areas such as New York, Los Angeles, Boston, and Seattle. Equity Residential's primary focus is on Class A properties, which are considered high-end and typically have amenities such as fitness centers, swimming pools, and in-unit washer and dryers. The company also has a secondary focus on Class B properties, which are considered more affordable and may have fewer amenities. The company's business model is focused on long-term growth and generating steady income through rental payments from its tenants. Equity Residential also has a commitment to sustainability and green initiatives, with many of its properties incorporating eco-friendly features. Equity Residential is publicly traded on the New York Stock Exchange under the ticker symbol EQR. As of 2021, the company has a market capitalization of over $25 billion and is consistently ranked as one of the largest apartment owners in the United States. Equity Residential is led by a team of experienced executives, including CEO and President Mark J. Parrell. The company has a strong reputation in the real estate industry for its financial stability, tenant satisfaction, and commitment to community involvement and philanthropy.
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