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DENVER and ARLINGTON, Va. — Archstone Communities, Denver, and Charles E. Smith Residential Realty have announced they will merge, creating $9.3 billion apartment company.
The new company will operate under the name Archstone-Smith Trust and will own 87,456 units, including 4,899 units under construction. The company will use the Smith Residential brand name for its high rise portfolio and the Archstone brand name for all other communities.
According to the companies, the total market value of the transaction is approximately $3.6 billion.
