Land & Buildings Calls on Equity Commonwealth to Take Long Overdue Step of Liquidating Remaining Assets and Returning Capital to Shareholders

Key Summary: On March 13, 2024, Land & Buildings Investment Management (3%) proposed liquidating EQC’s remaining properties and returning cash to shareholders, citing the company’s real estate portfolio and market dynamics.

Market Cap: $2 billion | Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States.

On March 13, 2024, Land & Buildings Investment Management  (3%) issued a letter to the Board proposing the liquidation of EQC’s remaining properties and the return of its cash to shareholders, citing the company’s real estate portfolio, substantial cash holdings, and market dynamics. Land & Buildings highlighted EQC's underperformance, excessive G&A costs, declining interest income, and challenges in the office real estate sector. They urged the Board to announce a complete liquidation of remaining assets and return cash to shareholders to maximize value.