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Equity Residential Properties Trust Of Chicago

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July 9, 1998 | From Times Staff and Wire Reports
Equity Residential Properties Trust of Chicago on Wednesday agreed to buy Georgia-based apartment developer Merry Land & Investment Co. in a $2.2-billion deal, one of the largest mergers of real estate investment trusts. "This is part of a trend toward a lot of mergers, acquisitions and other corporate activity," said Craig Silvers, a real estate industry analyst in the Los Angeles office of Sutro & Co., a securities firm. "It gets hard for them to grow by buying small portfolios.
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BUSINESS
July 9, 1998 | From Times Staff and Wire Reports
Equity Residential Properties Trust of Chicago on Wednesday agreed to buy Georgia-based apartment developer Merry Land & Investment Co. in a $2.2-billion deal, one of the largest mergers of real estate investment trusts. "This is part of a trend toward a lot of mergers, acquisitions and other corporate activity," said Craig Silvers, a real estate industry analyst in the Los Angeles office of Sutro & Co., a securities firm. "It gets hard for them to grow by buying small portfolios.
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