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Affordable Residential will pay $105.8 million in cash and 1.22 million shares of its stock for Nlasco, Affordable Residential said.
But Equity Residential will acquire four of Archstone's current development projects, to AvalonBay's three, and 15 sites to be developed in the future.
The move will not hit landlords who hold their properties in companies, meaning the properties owned by Oldbury Residential will not be caught up.
Equity Residential will report funds from operations (FFO) of $1.98 per share this year and $1.93 in 2011, Green Street estimates.
Similar(56)
A children's residential unit will close and youth services will stop.
Of these six sites, three (one for each type of residential facility) will be implementation sites, and three will be comparison sites.
The residential towers will overlook an interior courtyard, and each will be accessible from both streets.
A total of 1,700 residential homes will be built, the majority of which will be sold privately.
The residential buildings will connect via a ground-floor commercial space that will sit beneath the High Line.
One residential tower will stand 186 meters, 50 floors, while the other will measure a close 170-meters containing offices and hotel functions.
The Kingdom Riyadh Land project, a mixed-use commercial and residential development, will generate more than $5.33 billion of total investment and will house up to 75,000 people.
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