News
EQUITY ACQUIRES COMPETITOR
June 2, 2011
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| The manufactured home division of Equity Residential will buy 6,500 acres in 16 states as part of its buyout of Hometown America. The $1.4B acquisition includes sites for more than 31,000 homes and was funded through net proceeds from an offering of common stock, assumption of debt, and two loans worth $500M. The individual home sites are equipped with utilities for manufactured homes, and there are also RV rental sites. |
