Equity Residential is a real estate investment trust (REIT) that specializes in owning, developing, and operating multifamily apartment buildings in the United States. The company was founded in 1966 by real estate magnate Sam Zell and is headquartered in Chicago, Illinois. Equity Residential owns over 300 apartment properties, with more than 79,000 units, located in urban and high-density suburban areas of the country.
Equity Residential's primary business is the acquisition, development, and management of apartment properties. The company aims to offer high-quality living spaces for renters by providing modern amenities, attractive design, and responsive property management services. It also focuses on creating sustainable and energy-efficient properties, investing in energy-efficient technologies, and promoting environmental responsibility.
Equity Residential's apartment properties are located in some of the largest cities in the United States, including New York, Boston, Seattle, San Francisco, and Washington, D.C. The company's properties offer a variety of floor plans, ranging from studios to three-bedroom apartments, and amenities such as fitness centers, swimming pools, and on-site retail.
The company generates revenue from rental income, with a focus on long-term leases. Equity Residential's properties target a mix of high-income professionals, young adults, and families. The company's portfolio is diversified across a range of geographies, which helps to reduce exposure to market risks.
Equity Residential has a strong reputation for ethical business practices and corporate responsibility. In 2020, the company was named one of the world's most ethical companies by Ethisphere for the fourth year in a row.