Massachusetts AG Orders Post-Merger Sale of Two Boston Apartment Towers
Two Boston apartment towers in the portfolio of newly merged Vivmark Residential will be sold under an agreement between Massachusetts Attorney General Andrea Joy Campbell and the merger partners, Equity Residential and AvalonBay Communities. The agreement to sell the two-building Emerson Place is intended to ensure that the merger will not substantially reduce competition in the mid-rise and high-rise multifamily rental housing market in downtown Boston, Campbell’s office said.
“When real estate companies consolidate market share, it can lead to higher prices, lower-quality amenities and worse lease terms for renters. This agreement protects Boston renters and ensures this merger doesn’t create unlawful market control,” said Campbell.
The AG’s office will need to approve the would-be buyer for Emerson Place. In addition, Equity Residential and AvalonBay have agreed to make a $500,000 contribution to support affordable housing preservation and development in Quincy, where they collectively own and operate six apartment buildings.
The conversations behind tomorrow’s apartment deals happen at Connect Apartments on September 22 in LA. Connect with the capital sources, owners, developers, and brokers driving multifamily investment. Learn more and reserve your seat at www.connectapts2026.com.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout