---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-328612"
form_type: "8-K"
ticker: "VRMK"
cik: "0000931182"
company_name: "ERP OPERATING LTD PARTNERSHIP"
filed_at: "2026-07-31T20:15:58+00:00"
generated_at: "2026-07-31T20:17:07.365831+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Equity Residential and AvalonBay merge in stock-for-stock deal; AvalonBay stockholders to own 51%

## Summary
- Each AvalonBay share converts into 2.793 Equity Residential common shares; fixed exchange ratio.
- Legacy AvalonBay stockholders expected to own ~51% of combined company; legacy EQR ~49%.
- AvalonBay is the accounting acquirer; its senior management will lead the combined entity.
- ERP Operating Partnership secured up to $2.0B bridge facility to refinance existing debt and pay merger costs.
- Pro forma balance sheet as of June 30, 2026 shows combined total assets of $57.5B.

## SEC filing metadata
- accession: 0001193125-26-328612
- form_type: 8-K
- ticker: VRMK
- cik: 0000931182
- company_name: ERP OPERATING LTD PARTNERSHIP
- filed_at: 2026-07-31T20:15:58+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/931182/000119312526328612/0001193125-26-328612-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906107/000119312526328612/eqr-20260731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-328612
- JSON: https://secwatch.observer/filing/0001193125-26-328612.json
- Plain text: https://secwatch.observer/filing/0001193125-26-328612.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.