This excerpt taken from the EQR 10-Q filed Aug 7, 2006.
Certain direct and indirect subsidiaries of Equity Residential (collectively, the Company) have agreed to sell the Companys Lexford Housing Division to certain affiliates of Empire Group Holdings LLC for a total cash purchase price of $1,086,000,000, as reported in the Companys current report on Form 8-K dated June 28, 2006, through the execution and delivery of eight substantially similar purchase and sales agreements. The Company is herewith filing the form of purchase and sale agreement and the exhibits thereto containing substantive transaction terms. Seven of the eight Agreements contemplate the sale of limited liability equity interests, as reflected in the attached form Agreement. The remaining Agreement, representing less than eight percent of the total cash purchase price, contemplates the direct sale of properties, and therefore certain of the provisions of such Agreement differ from the attached form solely to reflect this difference.