AvalonBay Communities, Inc. completed its merger with Vivmark Residential (formerly Equity Residential) on August 17, 2026, creating a combined entity with an enterprise value of approximately $70 billion and over 184,000 rental apartments. Each share of AvalonBay common stock was converted into the right to receive 2.793 shares of Vivmark Common Shares at an exchange ratio of 2.793. Following the transaction, former AvalonBay shareholders own approximately 51% of the combined company on a fully diluted basis. The new entity, ERP Operating Limited Partnership, will trade on the NYSE under the symbol VMRK starting August 18, 2026, while AvalonBay shares were delisted and deregistered from the NYSE. Benjamin Schall serves as CEO of Vivmark Residential, which operates in the multifamily real estate investment trust (REIT) industry.

AvalonBay Communities stockholders approved the merger with Equity Residential at a special meeting held on August 12, 2026. The proposal received 126,457,745 votes in favor against 51,666 opposed. Following shareholder approval from both entities, the combined company will be renamed Vivmark Residential and trade under the ticker symbol VMRK. Each AvalonBay share converts into 2.793 Equity Residential shares. The transaction is expected to close on August 17, 2026. AvalonBay Communities operates as an equity REIT that develops, acquires, and manages apartment communities in leading metropolitan areas across the United States.

AvalonBay Communities filed an 8-K supplementing the Definitive Joint Proxy Statement regarding its all-stock merger with Equity Residential, which will result in a combined entity named Vivmark Residential. The filing discloses shareholder litigation and demand letters alleging disclosure deficiencies in the proxy materials, though management believes these are without merit. It provides updated financial analyses by Morgan Stanley and Goldman Sachs, including implied equity value ranges for AvalonBay ($200.76–$269.16) and Equity Residential ($70.57–$92.64), as well as pro forma combined company valuations using an exchange ratio of 2.793. The company operates in the multifamily real estate sector, owning and operating apartment communities.

AvalonBay Communities reported second quarter 2026 results, including diluted EPS of $1.11 and Core FFO per share of $2.86. Due to a proposed all-stock merger of equals with Equity Residential, the company has suspended its previous EPS, FFO, and Core FFO outlooks. The merger would create a combined entity with a pro forma equity market capitalization of approximately $53 billion and an enterprise value of $71 billion. The company also updated its full-year 2026 Same Store portfolio outlook, increasing projected NOI change to a range of 1.3% to 1.4%. AvalonBay is an equity REIT that develops, acquires, and manages apartment communities.

AvalonBay Communities, Inc. and Equity Residential issued a joint press release announcing the executive leadership team for the combined company following the merger-of-equals transaction. The merger agreement was previously disclosed on May 20, 2026, and the combined company will operate under a new name to be announced prior to closing.

AvalonBay Communities stockholders approved a new 2026 Equity Incentive Plan at the company's annual meeting, authorizing the issuance of up to 4,000,000 shares of common stock. This plan replaces an expiring program, ensuring the company can continue to utilize equity-based compensation to attract and retain talent. The meeting also resulted in the re-election of 12 directors and the ratification of Ernst & Young as independent auditors.