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Sam Zell

Equity Residential, AvalonBay Report Strong Quarters

Equity Residential (EQR) and AvalonBay Communities Inc. (AVB), two of the U.S.'s largest publicly held apartment landlords, reported strong quarters late Tuesday, reflecting the rental market's continued strength.But there are signs that the red-hot sector could be cooling as rental growth slows and low mortgage rates continue luring buyers into the ownership market. In a conference call with analysts and investors early Tuesday, competitor Post Properties Inc. (PPS) said turnover and moveouts to buy homes picked up in its latest quarter, while it is offering concessions to lure buyers to some communities.The apartment market has done well since the housing and financial markets crashed and buyers flocked to the rental lifestyle. The Census Bureau reported Tuesday that homeownership in the U.S. continued fell to its lowest rate in nearly 18 years during the first quarter.But developers are rushing to deliver new supply, leaving some markets, including Washington, D.C., and Seattle, vul...

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  1. Equity Residential 4th-Quarter Profit Surges on Sales, Rental Income

    Equity Residential's (EQR) fourth-quarter profit surged as the apartment landlord benefited from real-estate sales, and rental income grew.The country's largest apar...

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    U.S. media giant Tribune Co emerged from bankruptcy on Monday, ending four years of Chapter 11 reorganization and potentially setting itself up for a future without ...

  4. Publisher Tribune to exit bankruptcy December 31: sources

    The Tribune Co, owner of the Los Angeles Times and the Chicago Tribune, will emerge from bankruptcy on December 31, sources said on Friday, ending four years of Chap...

  5. Lehman Sells Landlord Archstone for $6.5 Billion

    Equity Residential (EQR) and AvalonBay Communities Inc. (AVB) are acquiring Archstone Enterprise LP, a portfolio of apartment properties, from Lehman Brothers Holdin...

  6. Tribune Co gets FCC approval, nears bankruptcy exit

    Tribune Co, the owner of the Chicago Tribune, Los Angeles Times and 23 television stations, said on Friday it received a key regulatory approval needed to end its ne...

  7. Equity Residential Third-Quarter Net Surges on Rents, Gains

    Equity Residential's (EQR) third-quarter profit more than doubled as the real-estate investment trust reported higher rental income as well as one-time gains.The com...

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