Archstone Company Description
Archstone (formerly Archstone-Smith) is the cornerstone of Tishman Speyer and Lehman Brothers' real estate partnership. Acquired by Tishman and Lehman for $22 billion in 2007, the firm is one of the largest apartment investment companies in the US, behind Equity Residential and AIMCO. It owns about 70,000 apartment units in areas such as Washington, DC (about 40% of its portfolio); Southern California; New York City; and Boston. Archstone operates under the Archstone brand name (garden-style units) and the Charles E. Smith name (high-rises). The company also offers extended-stay properties through Oakwood Worldwide. Lehman's filed for bankruptcy in 2008 and could sell some $32 billion in real estate assets.
View the Comprehensive Company Description for Archstone
The Company Description provides a historical perspective of Archstone's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Archstone's evolution in the marketplace.
