Equity Residential and AvalonBay Communities Inc., the largest publicly traded U.S. apartment owners, are in talks to sell a German unit to a Deutsche Bank AG fund, three people with knowledge of the matter said. The unit is valued at about 1.3 billion euros ($1.8 billion).
The Federal Reserve’s effort to jolt the U.S. economy to life by pumping cash into the financial system is causing price gains on everything from stocks to apartment buildings to outpace growth, according to billionaire real-estate investor Sam Zell.
Tribune Co. ’s bankruptcy judge said he isn’t yet ready to decide whether potential lawsuits against company Chairman Sam Zell related to the billionaire’s $8.2 billion buyout of the newspaper publisher “have merit.”
Lehman Brothers Holdings Inc. lost a bid to block Bank of America Corp. and Barclays Plc from giving Sam Zell’s Equity Residential an option to buy 26.5 percent of Archstone when a judge said Zell was entitled to the option.
Willie Gault, the former NFL wide receiver and Olympic sprinter, was accused by U.S. regulators of taking part in a scheme to artificially inflate the stock of a medical-device company that he managed.
Sam Zell’s Equity Residential raised its bid for a stake in Archstone held by Bank of America Corp. and Barclays Plc to almost $1.5 billion after Lehman Brothers Holdings Inc. said it wanted to take control of the real-estate company.