In 2007, the company was acquired by Tishman Speyer and Lehman Brothers and, in 2013, the company's assets were acquired by Equity Residential and AvalonBay Communities.
At the time of the liquidation of the company in 2013, it owned over 40,000 apartment units.
[3] In 2001, the company acquired Charles E. Smith Residential Realty, the apartment company founded by Charles E. Smith and the largest real estate owner in the Washington, D.C. metropolitan area, in a $2.2 billion transaction.
[4][5] In 2007, the company was acquired by Tishman Speyer and Lehman Brothers in a $22.2 billion transaction.
On February 27, 2013, Equity Residential and AvalonBay Communities closed a $9 billion deal to acquire the company from Lehman Brothers.