AvalonBay and Equity Residential complete merger to form Vivmark Residential

AvalonBay Communities and Equity Residential completed their merger on August 17, 2026, creating Vivmark Residential, which is expected to begin trading on the NYSE under ticker VMRK on August 18. The combined company has approximately $51 billion of equity market capitalization, $70 billion of enterprise value, more than 184,000 apartments and an expected annualized dividend of $2.81 per share; former AvalonBay shareholders own about 51% and former Equity Residential shareholders about 49%. AvalonBay also terminated its commercial paper program, which had no outstanding balance, and its sales-agency agreements for issuing common stock.