Business Wire·Aug 17, 2026, 9:00 AM ET

Vivmark Residential Launches as One of the Country's Leading Real Estate Companies

VMRK EQR AVB

AvalonBay Communities and Equity Residential completed their merger of equals to form Vivmark Residential (NYSE: VMRK), which began trading on the New York Stock Exchange on August 18, 2026.
Vivmark Residential is now one of the country's leading real estate companies with an equity market capitalization of approximately $51 billion, an enterprise value of approximately $70 billion, more than 184,000 rental apartments, and over 11,100 apartments under construction.
Benjamin Schall serves as Chief Executive Officer, Michael Manelis as Chief Operating Officer, Kevin O'Shea as Chief Financial Officer, and Stephen Sterrett serves as Chairman of the Board.
The company's strategy focuses on four priorities: attracting superior talent, leveraging technology and data for an operating edge, utilizing development expertise for growth, and maintaining financial strength for superior returns.
Vivmark's "Vivmark Effect" creates a self-reinforcing cycle where superior operations generate greater NOI, enhanced investment returns, and a lower cost of capital to fund future growth.
The company has a development pipeline of approximately $4.4 billion under construction across 33 communities and a development rights pipeline of approximately $4.2 billion representing 9,900 future homes.
Vivmark holds dual A3/A- credit ratings, expects more than $2 billion in annual self-funding capacity, and anticipates combined common dividends of more than $2 billion in 2026.
Former AvalonBay shareholders will own approximately 51% of the combined company, while former Equity Residential shareholders will own approximately 49%, following the conversion of 1 share of AvalonBay stock into 2.793 shares of Vivmark stock.
The transaction is expected to qualify as a tax-free reorganization for U.S. federal income tax purposes, with Vivmark expecting an initial annualized dividend of $2.81 per share.
Vivmark is committed to affordable housing, with 30% of its communities containing approximately 7,200 affordable homes and plans to deepen partnerships with True Ground Housing Partners.
Goldman Sachs, J.P. Morgan, and Wells Fargo served as financial advisors to AvalonBay, while Morgan Stanley, Centerview Partners, and BofA Securities served as financial advisors to Equity Residential.