The owners of Archstone have approached Vornado Realty Trust (VNO.N) and others including several private equity firms as they draw up a list of possible buyers for the apartment building company's assets, people familiar with the situation said. Vornado CEO Michael Fascitelli told Reuters on Wednesday that Archstone had reached out to his firm and others. According to sources familiar with the situation, the list of potential bidders also includes private equity firms TPG Capital and Blackstone Group (BX.N), as well as sovereign wealth funds. Others include Equity Residential (EQR.N), AvalonBay Communities Inc (AVB.N) and Apollo, these sources said. Lehman, Bank of America, Barclays, TPG and Blackstone declined to comment. AvalonBay, Equity Residential and the rest of the private equity firms were not immediately available for comment.
Vornado Realty Trust (Vornado) is an integrated real estate investment trust (REIT). Shares of VNO fell by 0.58% or $-0.55/share to $94.33. In the past year, the shares have traded as low as $68.59 and as high as $97.93. On average, 1084150 shares of VNO exchange hands on a given day and today's volume is recorded at 1007933.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $16.18. In the past year, the shares have traded as low as $8.93 and as high as $19.63. On average, 3590810 shares of BX exchange hands on a given day and today's volume is recorded at 2916029.
Equity Residential (EQR) is a real estate investment trust (REIT). Shares of EQR traded higher by 0.35% or $0.21/share to $60.98. In the past year, the shares have traded as low as $39.69 and as high as $60.81. On average, 1715120 shares of EQR exchange hands on a given day and today's volume is recorded at 1850377.
AvalonBay Communities, Inc. is a real estate investment trust (REIT). Shares of AVB traded higher by 0.26% or $0.34/share to $132.62. In the past year, the shares have traded as low as $88.83 and as high as $133.84. On average, 657705 shares of AVB exchange hands on a given day and today's volume is recorded at 887588.
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