Gables Residential has been put on the selling block by its private equity owners, which include Clarion Partners and Silverpeak, in a deal that could rank as one of the biggest sales of U.S. residential real estate since the economic meltdown. The Florida-based REIT has reportedly hired bankers and is expecting to receive initial bids within the next few weeks. The sale would mark an exit for Gables' private equity owners, who took the company private nine years ago for $2.8 billion. While the exact value of Gables has yet to be assigned, analysts expect it will fetch as much as $3 billion, attracting interest from private equity, sovereign wealth, and institutional investors.
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