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November 28, 2015 7:49 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of ERP Operating Limited Partnership

Company Overview

ERP Operating Limited Partnership conducts the multifamily residential property business of Equity Residential, a real estate investment trust. It primarily engages in the acquisition, development, ownership, management, and operation of multifamily properties, including garden, mid/high-rise, ranch, and military housing. As of March 31, 2006, the partnership owned 911 properties in 31 states consisting of 192,240 units. Equity Residential is the general partner of the partnership. The partnership was founded in 1993 and is headquartered in Chicago, Illinois. ERP Operating Limited Partnership operates as a subsidiary of Equity Residential.

Two North Riverside Plaza

Chicago, IL 60606

United States

Founded in 1993

3,500 Employees





Key Executives for ERP Operating Limited Partnership

Chief Operating Officer- Equity Residential- General Partner, Executive Vice President-Equity Residential- General Partner and Trustee- Equity Residential- General Partner
Age: 68
Chief Investment Officer - Equity Residential and Executive Vice President - Equity Residential
Age: 57
Executive Vice President of Equity Residential - General Partner and Treasurer of Equity Residential- General Partner
Age: 59
Executive Vice President of Portfolio Investment - Equity Residential- General Partner
Age: 63
Secretary- Equity Residential- General Partner, General Counsel - Equity Residential- General Partner and Executive Vice President - Equity Residential- General Partner
Age: 60
Compensation as of Fiscal Year 2015.

ERP Operating Limited Partnership Key Developments

ERP Operating Limited Partnership Enters into 10 Substantially Identical Real Estate Sale Agreements with SCG Atlas Acquisition, L.P

On October 23, 2015, ERP Operating Limited Partnership (ERP), a subsidiary and the operating partnership of Equity Residential (EQR) through which EQR owns substantially all of its assets, together with certain wholly-owned subsidiaries of ERP entered into 10 substantially identical Real Estate Sale Agreements dated as of October 23, 2015 with SCG Atlas Acquisition, L.P., an affiliate of Starwood Global Opportunity Fund X pursuant to which Seller has agreed to sell to Purchaser a portfolio of 72 multifamily assets, comprising 23,262 apartment units across the United States for $5.365 billion in cash all pursuant to the terms and subject to the conditions set in the Sale Agreements. The Purchaser has deposited $200 million in cash into escrow as a non-refundable earnest money deposit. The Transaction may be consummated in multiple closings, occurring as early as January 14, 2016, but no later than April 15, 2016.

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