News
EQUITY ACQUIRES COMPETITOR
June 02, 2011
 |
| 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. |
