Pam Rothenberg, Lisa Ruddy, Chris Iavarone, John Hagner, Stan Wrobel, Chris Bullock and Melissa M. Morgan helped complete the largest real estate transaction in the U.S. since 2007. The team represented AvalonBay Communities, Inc., which joined with Equity Residential in acquiring all of the assets and most of the liabilities of Archstone Enterprise LP from Lehman Brothers Holdings, Inc. Archstone was one of the largest developers and operators of apartment buildings in the country.
The Womble Carlyle team represented AvalonBay in simultaneously closing numerous transactions relating to a large portion of Archstone’s asset-secured financing. In all, the deal involved more than $4 billion of debt, including a $1.2 billion Fannie Mae master credit facility.
The successful acquisition positions AvalonBay as the second-largest multifamily REIT in the United States. The company now owns approximately 80,000 apartment units in 263 communities nationwide.
