Nov 5, 8:26 AM ET
Vivmark Residential reported its third quarter 2026 results, reflecting its merger of equals between Equity Residential and AvalonBay Communities completed on August 17, 2026. The company posted a diluted net loss per share of $1.27 and Core FFO per share of $1.03, while increasing expected annual run-rate operating synergies to $135 million.
- Diluted EPS was $(1.27) and Core FFO per share was $1.03 for the third quarter ended September 30, 2026.
- The merger of equals forming Vivmark Residential was completed on August 17, 2026.
- Expected annual net run-rate operating synergies were increased by $10 million to $135 million.
- Available liquidity stood at $4.0 billion as of September 30, 2026.
Read the filing on SEC.gov ↗
Aug 17, 4:13 PM ET
In connection with the closing of the Mergers on August 17, 2026, ERP Operating Partnership assumed AvalonBay's obligations under a $2.5 billion revolving credit facility and a $550 million term loan facility, and also assumed Merger Sub's obligations under multiple series of unsecured notes. The filing does not describe the Mergers' terms or their financial effect, so shareholders can see the debt structure but not the deal's economics here.
- On August 17, 2026, ERP Operating Partnership became the new borrower under the $2.5 billion revolver and $550 million term loan, which were previously AvalonBay's facilities.
- As of August 17, 2026, $1.205 billion was borrowed under the revolver and the full $550 million was outstanding under the term loan.
- The revolver matures April 3, 2030 and the term loan matures April 3, 2029; the current spreads are 72.5 and 80 basis points per annum.
- Supplemental indentures dated August 17, 2026 transfer unsecured notes issued under 1998, 2018 and 2024 indentures, with individual series ranging from $300 million to $700 million in principal.
Read the filing on SEC.gov ↗
Aug 17, 4:01 PM ET
AvalonBay Communities and Equity Residential completed their merger, forming Vivmark Residential, which the filing says is expected to begin trading on the NYSE as VMRK on August 18, 2026. The combined company issued approximately 400 million common shares, and its board was reconstituted to 14 trustees, seven from each former company. The filing states that Vivmark has not issued guidance for the combined company, so shareholders have no new company-level earnings outlook from this filing.
- Each AvalonBay common share converted into 2.793 Vivmark common shares at the Effective Time.
- Former AvalonBay stockholders will own approximately 51% and Equity Residential shareholders approximately 49% of the combined company, fully diluted.
- Stephen E. Sterrett was appointed Chairman; Tahsinul Zia Huque, Mark J. Parrell and Mark S. Shapiro resigned from the Board.
- Vivmark expects an initial annualized dividend of $2.81 per share, according to the press release attached to the filing.
Read the filing on SEC.gov ↗
Jul 22, 4:28 PM ET
Equity Residential (NYSE: EQR) reported second-quarter 2026 diluted EPS of $0.30, down from $0.50, mainly on lower property sale gains, while FFO per share rose 2.0% to $1.00. It raised the midpoint of its full-year same-store revenue and NOI guidance but withdrew its EPS, FFO and Normalized FFO guidance because of the pending all-stock merger with AvalonBay. The filing names Equity Residential (NYSE: EQR), not VIVMARK RESIDENTIAL (VMRK) as listed in the request, so this summary reflects the filing's company.
- Q2 2026 diluted EPS was $0.30 versus $0.50 in Q2 2025, down 40.0%; six-month EPS was $0.54 versus $1.18.
- Q2 2026 FFO per share was $1.00, up 2.0% from $0.98; Normalized FFO per share was $1.02, up 3.0% from $0.99.
- Same-store revenue guidance for 2026 is now 2.1% to 2.7% and NOI guidance 1.5% to 2.1%; the midpoints were raised.
- EPS, FFO and Normalized FFO guidance was withdrawn due to the pending merger with AvalonBay, with shareholder meetings set for August 12, 2026.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
