This excerpt taken from the EQR 8-K filed Oct 5, 2006.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On October 5, 2006, Equity Residential, through certain direct and indirect subsidiaries (each such subsidiary, collectively with ERP Operating Limited Partnership, the Seller), completed the previously announced sale of its Lexford housing division to affiliates of Empire Group Holdings LLC, a privately held company based in Montvale, New Jersey (collectively, the Buyer) for a total cash purchase price of $1,086,000,000. The transaction involved the sale by Seller to Buyer of 289 properties, all built between 1976 and 1989, with 27,115 apartment units located in 10 states, together with the assets of the Lexford property management company with approximately 800 employees headquartered in Columbus, Ohio.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.