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EQR » Topics » 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,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 Company’s 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 Company’s 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.
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