Vivmark Residential Reports $1.19 Billion Quarterly Revenue
The newly merged apartment REIT posted its first quarterly results after AvalonBay and Equity Residential combined.
Updated on Nov. 5, 2026 in Apartments
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Vivmark Residential, formed by the merger of AvalonBay Communities and Equity Residential, reported $1.19 billion in third-quarter 2026 revenue in its first quarterly earnings call. The company posted a loss of more than $747 million for the quarter, with funds from operations of 8 cents per share.
Why it matters
The results mark the first public snapshot of a combined apartment owner with more than 184,000 units across high-priced U.S. markets. Its occupancy and turnover figures offer a read on rental demand in those metros.
Merger-related costs totaled about $725 million, $25 million below the initial estimate, and portfolio occupancy reached 95.8 percent with turnover at 12.7 percent. The company's $4.4 billion development pipeline has not yet been detailed for timing beyond the broader 2027 delivery outlook.
The players
Vivmark Residential
The apartment real estate investment trust formed by merging AvalonBay Communities and Equity Residential, headquartered in Arlington, Va., with a co-headquarters in Chicago.
AvalonBay Communities
A publicly traded apartment REIT that served as the accounting acquirer in its merger with Equity Residential.
Equity Residential
A large apartment REIT whose merger with AvalonBay created Vivmark Residential.
The details
Vivmark owns more than 184,000 apartments and reported 95.8 percent occupancy for the quarter. The merger closed in mid-August 2026, with AvalonBay serving as the accounting acquirer.
Timeline
Mid-August 2026: AvalonBay and Equity Residential merger closed.
Q3 2026: Vivmark reported its first quarterly results.
Q4 2026: First complete quarter for Vivmark expected.
Market Landscape
Vivmark's combined portfolio positions it among the largest U.S. apartment owners in high-priced coastal markets. The REIT estimates new multifamily deliveries in its regions will total about 1.2 percent of existing stock in 2027.
Renters in Vivmark's high-priced markets, including San Francisco, Washington, D.C., Boston and New York, may see how the company's occupancy and turnover trends shape lease renewals. The 12.7 percent turnover rate indicates how often units change hands in these buildings.
The takeaway
Large apartment consolidation can affect rental pricing and availability in dense metros, so renters should watch occupancy and lease-renewal terms as the combined company reports further results.
What happens next
Vivmark's first complete quarter of operations is expected in the fourth quarter of 2026, when its combined results will be reported in full.
Further reading
Explore more on Apartments to see how large landlords are reshaping rental housing.
Source note: This article includes information reported by Commercial Observer.
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