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Vivmark Residential begins NYSE trading under VMRK ticker
The Equity Residential and AvalonBay Communities merger was finalized Monday, creating an apartment REIT valued at $70 billion enterprise value and $51 billion market cap.
Shares of Vivmark Residential rose Tuesday afternoon after the company began trading on the New York Stock Exchange under the VMRK ticker, according to ConnectCRE.
The REIT was formed through a merger of equals between Equity Residential and AvalonBay Communities, which ConnectCRE said was finalized Monday.
The combined company has a market capitalization of $51 billion and an enterprise value of $70 billion. Vivmark is dual headquartered in Arlington, Virginia, and Chicago, the outlet reported.
ConnectCRE also said Benjamin Schall serves as CEO, with Michael Manelis as COO and Kevin O’Shea as CFO, and the board is led by chairman Stephen Sterrett.