Equity Residential Eyes Sale of Housing Unit

Equity Residential, Chicago, has announced the retention of J.P. Morgan to assist the company in the possible sale of its Lexford housing division.The division is composed of 299 properties in 10 states, consisting of 27,390 apartment units and a property management business based in Columbus, Ohio. "There is currently tremendous demand for large multifamily portfolios, particularly those that include an operating platform," said David J. Neithercut, president and chief executive officer of Equity Residential. The company can be found online at http://www.equityresidential.com.