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Two Apartment Industry Giants Join Forces

ARLINGTON, VA-Charles E. Smith Residential Associates will merge with Denver, Colorado's Archstone Communities, becoming Archstone-Smith. Together the companies will boast a total market capitalization of $9.1 billion

By Barbra Murray | Updated on October 30, 2001

ARLINGTON, VA-Charles E. Smith Residential Realty announces it will merge with Denver, Colorado-based Archstone Communities, to form one of the top companies in the high-rise and garden-style apartment community markets. The merger brings the new company’s total market capitalization to about $9.1 billion.

The new Archstone-Smith will make its headquarters in Denver, and will now own a total of 81,460 units. There will also be regional offices in Arlington, as well as Irvine, California and Atlanta, Georgia. Nearly 80% of Archstone-Smith’s apartment portfolio will be concentrated in the competitive Washington, DC, Boston, Chicago, California, Southeast Florida and Seattle markets.

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