Equity Residential: Lehman affiliate offering 15 million common shares

By Jim Witters

Wilmington, Del., May 22 - Equity Residential has announced the underwritten at-the-market secondary public offering of 15,068,000 of its common shares by Jupiter Enterprise LP, an indirect subsidiary of Lehman Brothers Holding Inc., as the selling shareholder.

The shares are part of the 34,468,085 common shares issued to the selling shareholder in connection with Equity Residential's acquisition of a portion of the Archstone apartment community portfolio in February 2013.

The offering is being made under an effective shelf registration statement filed by Equity Residential with the Securities and Exchange Commission. Neither Equity Residential nor any of its affiliates, including officers and trustees, will sell any shares in the offering.

Goldman Sachs & Co. is acting as the bookrunning manager for the offering.

Equity Residential owns or has investments in 416 properties located in 13 states and the District of Columbia, consisting of 118,778 apartment units.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company emerged from bankruptcy on March 6, 2012.

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