DLA Piper Guides Equity Residential's $536M Stock Sale

Law360, New York (December 9, 2011, 3:34 PM EST) -- Equity Residential, which last week agreed to buy a slice of apartment owner and developer Archstone for $1.3 billion, said on Thursday it plans to raise $535.7 million in a stock sale.

Chicago-based Equity, which is owned by billionaire real estate mogul Sam Zell, said in a regulatory filing that it would use the proceeds for “possible portfolio or asset acquisitions, business combinations or joint ventures,” but did not specifically tie the funds to the Archstone acquisition.

On Dec. 2, Equity announced its plans to buy...
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