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Equity Residential Prices Common Share Offering

Stocks in this article: EQR

Equity Residential (NYSE: EQR) today announced the pricing of a public offering of 19 million common shares at $54.75 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2.85 million common shares to cover over-allotments, if any. Settlement of the sale will occur on December 4, 2012.

The Company intends to use the net proceeds from the offering of approximately $1.0 billion net of underwriting fees and estimated expenses to fund a portion of the cash purchase price for the acquisition of assets of Archstone Enterprise LP. If the acquisition is not consummated, the Company plans to use the net proceeds from the offering for working capital and general company purposes.

Morgan Stanley, BofA Merrill Lynch, Deutsche Bank Securities and Wells Fargo Securities served as joint book-running managers for the offering. The offering of the common shares will be made under the Company’s existing shelf registration statement. The prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York, 10014, Attention: Prospectus Department, telephone: (866) 718-1649 or email: prospectus@morganstanley.com; BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com; Deutsche Bank Securities Inc., Attn.: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, telephone: (800) 503-4611 or email: prospectus.CPDG@db.com; and Wells Fargo Securities LLC Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, telephone: (800) 326-5897 or email: cmclientsupport@wellsfargo.com.

A registration statement relating to the common shares has been filed with the Securities and Exchange Commission and has become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the prospectus supplement and prospectus or authorized free writing prospectus relating to the offering which have or will be filed with the Securities and Exchange Commission.

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