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Private company

EQC Liquidating Trust

EQC Liquidating Trust is a real estate investment trust.1 It is headquartered in Chicago, Illinois.1

Last updated Oct 21, 2026.

Overview

  • IndustryReal Estate Investment Trusts1
  • HeadquartersChicago, Illinois1
  • Business addressTwo North Riverside Plaza, Suite 2000, Chicago, Il 606062
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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EQC Organization. EQC was formed in 1986 under Maryland law, electing to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended, (the “Code”). Prior to its dissolution on June 13, 2025, the Company was an internally managed and self-advised REIT operating as what is commonly referred to as an umbrella partnership real estate investment trust (“UPREIT”), conducting substantially all of its activities through EQC Operating Trust, a Maryland real estate investment trust (the “Operating Trust”), which was also dissolved on June 13, 2025.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

1757.2%Net margin5
18.5%Revenue growth, 20235
3.8%Return on equity5

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Income tax2¢$1.9M
  • Profit98¢$91.2M

Out of $5.2M in revenue.5

Where each dollar of operating cash went, fiscal 2023

  • Share buybacks49¢$60.2M
  • Kept or used elsewhere51¢$62.1M

Out of $122.3M of cash from operations.5

Financial statements

Revenue67895$5.2M in 2023−59% since 2018
0$5.0M$10.0M$15.0M2018: $12.7M$12.7M20182019: $11.0M$11.0M2019−13%2020: $4.1M$4.1M2020−62%2021: $3.1M$3.1M2021−26%2022: $4.4M$4.4M2022+42%2023: $5.2M$5.2M2023+19%
Net income67895$91.2M in 2023−67% since 2018
-$200.0M0$200.0M$400.0M$600.0M2018: $272.8M$272.8M20182019: $492.7M$492.7M2019+81%2020: $451.3M$451.3M2020−8%2021: -$16.4M-$16.4M20212022: $37.3M$37.3M20222023: $91.2M$91.2M2023+145%
Fiscal year201820192020202120222023
Revenue$12.7M6$11.0M7$4.1M8$3.1M9$4.4M5$5.2M5
Gross profit
Operating expenses$81.1M9$72.4M5$81.9M5
Operating income$11.5M10
Interest$26.6M6$8.9M7$620.0K8$08$08
Income before tax-$16.3M9$37.8M5$93.3M5
Income tax$3.2M6$1.3M7$248.0K8$120.0K9$453.0K5$1.9M5
Net income$272.8M6$492.7M7$451.3M8-$16.4M9$37.3M5$91.2M5
Earnings per share
Earnings per share (diluted)
Shares (weighted, basic)121.4M shares9111.7M shares5108.8M shares5
Shares (weighted, diluted)121.4M shares9112.8M shares5110.2M shares5

Compare EQC Liquidating Trust with another company

Corporate structure

EQC Liquidating Trust sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of EQC Liquidating Trust

  • EQC Liquidating Trust Chicago, Illinois
    • Equity Commonwealth Management LLC (Dissolved) Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What EQC Liquidating Trust reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$44.1M5 Dec 31, 2023$44.1M9 Dec 31, 20220%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$132.5M5 Dec 31, 2024$231.4M5 Dec 31, 2023−42.7%
Real estate investments, at cost$411.9M5 Dec 31, 2023$408.1M9 Dec 31, 2022+0.9%
Real estate accumulated depreciation$180.5M5 Dec 31, 2023$169.5M9 Dec 31, 2022+6.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$160.5M5 Dec 31, 2024$2.2B5 Dec 31, 2023−92.6%

Properties, in its own words

General. As of September 30, 2025, we did not own any properties.

Item 2 of the 10-K filed Oct 21, 2025.4

Leadership

Who has led EQC Liquidating Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John A. Mannix2006
  2. David Helfand2014–2025

President

  1. John A. Mannix2006–2010
  2. Adam Portnoy2011–2014
  3. David Helfand2014–2025

Chief financial officer

  1. John C. Popeo2006–2013
  2. Adam Scott Markman2014–2021
  3. William H. Griffiths2021–2025

Chief operating officer

  1. John A. Mannix2007–2008
  2. David M. Lepore2009–2013
2010201520202025
Board members and other officers (27)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Equity Commonwealth Management LLC (Dissolved) Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Equity CommonwealthAug 1, 2014 to Jun 13, 20252
  • CommonWealth REITJul 7, 2010 to Jul 23, 20142
  • HRPT PROPERTIES TRUSTAug 12, 1998 to Jun 18, 20102
  • HEALTH & RETIREMENT PROPERTIES TRUSTNov 16, 1994 to Jun 4, 19982
  • HEALTH & REHABILITATION PROPERTIES TRUSTMar 30, 1994 to May 6, 19942

Timeline

  1. Sep 30, 20258-K Other events49
  2. Jun 16, 20258-K Entered a material agreement; Other events50
  3. Apr 1, 20258-K Listing notice or transfer; Regulation FD disclosure51
  4. Feb 27, 20258-K Results of operations52
  5. Jan 27, 20258-K Executive or director change53
  6. Nov 13, 20248-K Shareholder vote54
  7. Oct 23, 20248-K Results of operations55
  8. Sep 20, 20248-K Other events56
  9. Sep 19, 20248-K Other events57
  10. Jul 30, 20248-K Results of operations58
  11. Jun 20, 20248-K Shareholder vote59
  12. May 1, 20248-K Results of operations60
  13. Jun 24, 2014New chief executive David Helfand becomes CEO15
  14. Sep 22, 2006New chief executive John A. Mannix becomes CEO16

Calendar

When it reported results

  1. Feb 27, 2025Reported quarterly or annual results52
  2. Oct 23, 2024Reported quarterly or annual results55
  3. Jul 30, 2024Reported quarterly or annual results58
  4. May 1, 2024Reported quarterly or annual results60
  5. Feb 12, 2024Reported quarterly or annual results61
  6. Oct 30, 2023Reported quarterly or annual results62
  7. Jul 26, 2023Reported quarterly or annual results63
  8. May 3, 2023Reported quarterly or annual results64

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

163 filings to the SEC since October 2021: 5 annual reports, 11 quarterly reports, 28 major events, 66 insider forms, 28 large holders, 25 other. The latest 20:

  1. Oct 21, 202510-K EDGAR
  2. Sep 30, 20258-K EDGAR
  3. Jun 16, 20258-K EDGAR
  4. Jun 13, 202515-12G EDGAR
  5. May 15, 2025SCHEDULE 13G/A EDGAR
  6. May 6, 202510-Q EDGAR
  7. Apr 30, 2025SCHEDULE 13G/A EDGAR
  8. Apr 11, 202525 EDGAR
  9. Apr 1, 20258-K EDGAR
  10. Mar 5, 20254 EDGAR
  11. Mar 5, 20254 EDGAR
  12. Mar 5, 20254 EDGAR
  13. Mar 5, 20254 EDGAR
  14. Mar 5, 20254 EDGAR
  15. Feb 27, 202510-K EDGAR
  16. Feb 27, 20258-K EDGAR
  17. Feb 14, 2025SCHEDULE 13G EDGAR
  18. Feb 6, 2025SCHEDULE 13G EDGAR
  19. Feb 5, 20254 EDGAR
  20. Feb 5, 20254 EDGAR

The 163 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 0 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 6, 2024Levy AndrewSVP & Chief Accounting OfficerSale2,409$18.71$45.1KForm 4
Aug 10, 2023Shifrin Orrin SEVP, Gen. Counsel & SecretarySale50,000$19.26$963.0KForm 4
Sep 20, 2022Shifrin Orrin SEVP, Gen. Counsel & SecretarySale50,000$26.95$1.3MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How EQC Liquidating Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREQC Liquidating Trust1
  • CIK0000803649
  • Employer ID (EIN)39-68684084
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business addressTwo North Riverside Plaza, Suite 2000, Chicago, IL 606061
  • Phone312.646.28001
  • Shares outstanding0 as of Sep 30, 202575
  • Public float$2.2B as of Jun 30, 20245
  • AuditorErnst & Young LLP, Chicago, Illinois PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 7, 19941
  • Filings1,575 in all: 4 (357), 8-K (340), 10-Q (94), DEFA14A (87), SC 13G/A (73), DFAN14A (70), 424B5 (59), SC 13D/A (47)1
    All 66 form types

    UPLOAD (46), SC 13G (34), 424B3 (33), DEF 14A (32), 10-K (30), 3 (29), CORRESP (24), ARS (16), 425 (13), 8-K/A (12), S-3 (12), FWP (11), 8-A12B (10), SC 13D (10), S-3/A (9), PRE 14A (8), 25-NSE (7), CERTNYS (7), EFFECT (7), POS AM (7), S-3ASR (6), 10-K/A (5), 3/A (5), PRER14A (5), S-8 POS (5), 305B2 (4), 4/A (4), PREC14A (4), S-8 (4), SCHEDULE 13G/A (4), 10-K405 (3), 10-Q/A (3), DEFC14A (3), PRRN14A (3), SCHEDULE 13G (3), 15-12B (2), 25 (2), 25-NSE/A (2), 8A12BEF (2), NO ACT (2), S-3MEF (2), S-4 (2), 144 (1), 15-12G (1), 40-APP (1), 424A (1), 424B2 (1), 424B4 (1), 8-A12B/A (1), DEF 14C (1), POSASR (1), PRE 14C (1), PREM14A (1), PREN14A (1), PX14A6G (1), RW (1), S-2 (1), S-4/A (1)

  • Latest filingsAnnual report (10-K) Oct 21, 2025
    Quarterly report (10-Q) May 6, 2025
    Proxy statement (DEF 14A) Oct 2, 2024
    Latest 8-K (8-K) Sep 30, 2025

Securities registered for trading

ClassSymbolExchange
None

From the cover page of the 10-K filed Oct 21, 2025 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

Legal proceedings

We are not involved in any litigation nor, to our knowledge, is any litigation threatened against us where the outcome would, in our judgment based on information available to us, have a material adverse effect on us.

The opening of Item 3, Legal Proceedings.4

Sources

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