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Article: Chicago-Based Equity Residential Properties Trust Likely on Prowl for a Merger.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 13, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Thomas A. Corfman, Chicago Tribune Knight Ridder/Tribune Business News
Jul. 13--In July, when many people plan vacations, billionaire financier Sam Zell's Equity Residential Properties Trust is busy mapping out mergers.
For the past four years, the Chicago-based real estate investment trust, the nation's largest apartment owner, has announced major acquisitions in July, including last year's $433 million merger with Connecticut-based Grove Property Trust.
And although some might think a sprawling, nationwide portfolio of more than 227,000 apartments is large enough, Equity Residential appears poised to keep its streak alive this summer. ...