AvalonBay, Equity Residential Will Operate as Vivmark Post-Merger
AvalonBay Communities, Inc. and Equity Residential announced Vivmark Residential as the name for the combined company resulting from their merger of equals. The new company, which expects to trade under the ticker symbol VMRK, will have a pro forma equity market capitalization of approximately $53 billion and an enterprise value of approximately $71 billion, with more than 180,000 rental apartments and over 10,000 apartments under construction.
“The name Vivmark Residential reflects what we are building — a company determined to set a new standard for the experience of home,” said Benjamin Schall, CEO of AvalonBay and incoming CEO of Vivmark..”Vivmark Residential is built from the exceptional foundations that AvalonBay and Equity Residential have each spent more than 30 years establishing as trusted leaders. With the combined scale, capabilities, and talent of both organizations, we have a rare opportunity to redefine what rental housing can be.”
The combined company will operate as Vivmark Residential upon completion of the merger. The new company name will not result in community name changes at closing. It’s not yet clear where the combined company will be headquartered.
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