Overview
Equity Commonwealth (NYSE: EQC) is an internally managed and self-advised real estate investment trust (REIT) with commercial office properties throughout the United States. Equity Commonwealth is based in Chicago, IL.
Management
In May 2014, a new Board of Trustees and management team were appointed to lead the company including Sam Zell, a pioneer in real estate who helped shape the modern REIT industry and who served as Board Chairman from May 2014 until his death in May 2023. After the new Board and management team took over responsibility for the company in 2014, the name was changed from CommonWealth REIT to Equity Commonwealth, and the company began trading under the ticker symbol “EQC”.
These changes in 2014 reflect the beginning of a new chapter for the company – one focused on creating long term value and aligning the interests of all stakeholders. The Equity Commonwealth leadership team has a long track record of success managing billions in global real estate investments and stewarding companies towards the maximization of their potential. This experience combined with strong discipline and an entrepreneurial culture is the formula that drives Equity Commonwealth and has driven other Equity companies including three of the largest U.S. REITS – Equity Residential, Equity LifeStyle Properties and Equity Office, the latter of which was sold for $39 billion in the largest leverage buyout at the time in 2007.
Approach
Equity Commonwealth combines deep real estate experience, a contrarian perspective and long term view with rigorous risk management and a conservative balance sheet to create value for its stakeholders. In addition, the company focuses on maintaining best in class corporate governance and building a culture that encourages transparency and open communication based on our guiding principles.
The Equity Commonwealth team holds a superior track record in strategically balancing investment, asset management and operating decisions with a commitment to our shareholders and customers at the core of our day-to-day operations.