Vivmark Residential and 3003 Van Ness

Vivmark Residential (VMRK) was formed through the merger of Equity Residential and AvalonBay Communities, two of the largest apartment owners in the United States. Vivmark is a real estate investment trust (REIT).

Equity Residential is the owner of Smith Property Holdings Van Ness LP, the entity that owns the apartment complex at 3003 Van Ness Street NW in Washington, DC.

Equity is attempting to transfer ownership of 3003 Van Ness from Smith to Vivmark, claiming an exemption from the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA). VNSTA has submitted an appeal to the DC Department of Housing and Community Development, challenging Equity’s proposed transfer of ownership rights.

For additional information, see VNSTA’s pages on TOPA and our recent posts regarding the TOPA case in the news section of this site.