Private company

EQC Liquidating Trust

Real estate investment trust.

Last updated Oct 18, 2026.

Overview

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

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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 margin³

18.5%Revenue growth, 2023³

3.8%Return on equity³

Where the money goes

Where each dollar of revenue went, fiscal 2023

Profit

Income tax2¢$1.9M
Profit98¢$91.2M

Out of $5.2M in revenue.³

Where each dollar of operating cash went, fiscal 2023

Share buybacksKept or used elsewhere

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

Out of $122.3M of cash from operations.³

Financial statements

Revenue⁴⁵⁶⁷³$5.2M in 2023−59% since 2018

Net income⁴⁵⁶⁷³$91.2M in 2023−67% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023
Revenue	$12.7M⁴	$11.0M⁵	$4.1M⁶	$3.1M⁷	$4.4M³	$5.2M³
Gross profit
Operating income	$11.5M⁸
Interest	$26.6M⁴	$8.9M⁵	$620.0K⁶	$0⁶	$0⁶
Income tax	$3.2M⁴	$1.3M⁵	$248.0K⁶	$120.0K⁷	$453.0K³	$1.9M³
Net income	$272.8M⁴	$492.7M⁵	$451.3M⁶	-$16.4M⁷	$37.3M³	$91.2M³
Earnings per share
Earnings per share (diluted)

Total assets¹¹⁴⁵⁶⁷³$2.4B in 2023−31% since 2018

Total liabilities¹¹⁴⁵⁶⁷³$34.9M in 2023−90% since 2018

Shareholders’ equity¹¹⁴⁵⁶⁷³$2.4B in 2023−25% since 2018

Cash⁴⁵⁶⁷³$2.2B in 2023−10% since 2018

Long-term debt¹¹⁴⁶$0 in 2022

Fiscal year	2018	2019	2020	2021	2022	2023
Cash	$2.4B⁴	$2.8B⁵	$3.0B⁵	$2.8B⁶	$2.6B⁷	$2.2B³
Total assets	$3.5B¹¹	$3.3B⁴	$3.3B⁵	$3.1B⁶	$2.9B⁷	$2.4B³
Long-term debt	$275.0M¹¹	$25.7M⁴	$0⁴		$0⁶
Total liabilities	$346.8M¹¹	$73.5M⁴	$34.5M⁵	$26.1M⁶	$31.2M⁷	$34.9M³
Shareholders’ equity	$3.2B¹¹	$3.2B⁴	$3.2B⁵	$3.0B⁶	$2.8B⁷	$2.4B³
Shares outstanding	121.6M shares¹¹	121.9M shares⁴	121.5M shares⁵	115.2M shares⁶	109.4M shares⁷	106.8M shares³

Cash from operations⁴⁵⁶⁷³$122.3M in 2023+37% since 2018

Dividends paid¹¹$428.6M in 2019+41% since 2018

Share buybacks⁴⁵⁶⁷³$60.2M in 2023−36% since 2018

Fiscal year	2018	2019	2020	2021	2022	2023
Cash from operations	$89.5M⁴	$98.9M⁵	$33.3M⁶	$16.1M⁷	$65.0M³	$122.3M³
Dividends paid	$304.6M¹¹	$428.6M¹¹
Share buybacks	$94.0M⁴	$5.5M⁵	$26.9M⁶	$181.5M⁷	$159.9M³	$60.2M³
Dividend per share	$2.50⁴	$3.50⁵	$3.50⁶		$1.00⁷	$4.25⁷

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Leadership

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

Chief executive

President

Chief financial officer

Chief operating officer

2010201520202025

Chief executive officerDavid Helfand Jun 24, 2014 to Mar 5, 2025¹³
Chief executive officerJohn A. Mannix Sep 22, 2006 to Sep 22, 2006¹⁴
PresidentDavid Helfand Jun 24, 2014 to Mar 5, 2025¹³
PresidentAdam Portnoy May 11, 2011 to May 9, 2014¹⁵
PresidentJohn A. Mannix Sep 22, 2006 to Sep 21, 2010¹⁴
Chief financial officerWilliam H. Griffiths Apr 1, 2021 to Mar 5, 2025¹⁶
Chief financial officerAdam Scott Markman Jul 18, 2014 to Feb 11, 2021¹⁷
Chief financial officerJohn C. Popeo Sep 22, 2006 to Sep 16, 2013¹⁸
Chief operating officerDavid M. Lepore Sep 21, 2009 to Sep 16, 2013¹⁹
Chief operating officerJohn A. Mannix Sep 20, 2007 to Sep 24, 2008²⁰

Board members and other officers (27)

interim Princ. accounting off.Allen Biju Samuel Jun 2, 2014 to Jul 11, 2014²¹
EVP, Gen, Counsel & SecretaryOrrin S. Shifrin Jun 2, 2014 to Mar 5, 2025²²
Treasurer and C.F.O.John C. Popeo Sep 21, 2010 to Sep 21, 2010²³
Pres. & Chief Invest. OfficerJohn A. Mannix Sep 21, 2009 to Sep 21, 2009²⁴
Executive Vice PresidentAdam Portnoy Apr 11, 2006 to Apr 11, 2006²⁵
Senior Vice PresidentDavid M. Lepore Sep 22, 2006 to Sep 24, 2008²⁶
Senior Vice PresidentJennifer B. Clark Sep 22, 2006 to Sep 24, 2008²⁷
Board memberSam Zell Jan 27, 2023 to Feb 8, 2023²⁸
Board memberEllen-Blair Chube Sep 17, 2020 to Jun 20, 2024²⁹
Board memberAnn Logan Jan 8, 2014 to Jan 28, 2014³⁰
Board memberRonald J. Artinian Jan 8, 2014 to Jan 28, 2014³¹
Board memberDavid Helfand Jun 24, 2014 to Mar 5, 2025¹³
Board memberGerald A. Spector Aug 4, 2014 to Jun 20, 2024³²
Board memberJames A. Star Aug 4, 2014 to Jun 20, 2024³³
Board memberMartin L. Edelman Aug 4, 2014 to Jun 20, 2024³⁴
Board memberMary Jane Robertson Aug 4, 2014 to Jun 20, 2024³⁵
Board memberEdward A. Glickman Oct 30, 2014 to Jun 24, 2020³⁶
Board memberJames Lloyd Lozier Jr. Oct 30, 2014 to Jun 24, 2020³⁷
Board memberJames Scott Corl Oct 30, 2014 to Nov 19, 2020³⁸
Board memberKenneth Shea Oct 30, 2014 to Jun 24, 2020³⁹
Board memberPeter Linneman Oct 30, 2014 to Jun 20, 2024⁴⁰
Board memberJoseph Morea Jul 19, 2012 to May 16, 2013⁴¹
Board memberBarry M. Portnoy Apr 11, 2006 to Mar 11, 2014⁴²
Board memberAdam Portnoy May 24, 2006 to Mar 11, 2014⁴³
Board memberFrederick N. Zeytoonjian May 24, 2006 to May 16, 2013⁴⁴
Board memberPatrick F. Donelan May 24, 2006 to May 9, 2012⁴⁵
Board memberWilliam A. Lamkin May 24, 2006 to May 16, 2013⁴⁶

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

Jun 24, 2014New chief executive David Helfand becomes CEO¹³
Sep 22, 2006New chief executive John A. Mannix becomes CEO¹⁴

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:

Oct 21, 202510-K EDGAR
Sep 30, 20258-K EDGAR
Jun 16, 20258-K EDGAR
Jun 13, 202515-12G EDGAR
May 15, 2025SCHEDULE 13G/A EDGAR
May 6, 202510-Q EDGAR
Apr 30, 2025SCHEDULE 13G/A EDGAR
Apr 11, 202525 EDGAR
Apr 1, 20258-K EDGAR
Mar 5, 20254 EDGAR
Mar 5, 20254 EDGAR
Mar 5, 20254 EDGAR
Mar 5, 20254 EDGAR
Mar 5, 20254 EDGAR
Feb 27, 202510-K EDGAR
Feb 27, 20258-K EDGAR
Feb 14, 2025SCHEDULE 13G EDGAR
Feb 6, 2025SCHEDULE 13G EDGAR
Feb 5, 20254 EDGAR
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 three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 28 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGAREQC Liquidating Trust filings on SEC EDGAR
2
SEC EDGAREQC Liquidating Trust filings on SEC EDGAR
3
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2023
4
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2018
5
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2019
6
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2020
7
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2021
8
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2018
9
SEC EDGAREQC Liquidating Trust 10-Q for fiscal 2024
10
SEC EDGAREQC Liquidating Trust 10-Q for fiscal 2024
11
SEC EDGAREQC Liquidating Trust 10-K for fiscal 2018
12
SEC EDGAREQC Liquidating Trust 10-Q for fiscal 2024
13
SEC EDGARDavid Helfand, Chief executive officer
14
SEC EDGARJohn A. Mannix, Chief executive officer
15
SEC EDGARAdam Portnoy, President
16
SEC EDGARWilliam H. Griffiths, Chief financial officer
17
SEC EDGARAdam Scott Markman, Chief financial officer
18
SEC EDGARJohn C. Popeo, Chief financial officer
19
SEC EDGARDavid M. Lepore, Chief operating officer
20
SEC EDGARJohn A. Mannix, Chief operating officer
21
SEC EDGARAllen Biju Samuel, interim Princ. accounting off.
22
SEC EDGAROrrin S. Shifrin, EVP, Gen, Counsel & Secretary
23
SEC EDGARJohn C. Popeo, Treasurer and C.F.O.
24
SEC EDGARJohn A. Mannix, Pres. & Chief Invest. Officer
25
SEC EDGARAdam Portnoy, Executive Vice President
26
SEC EDGARDavid M. Lepore, Senior Vice President
27
SEC EDGARJennifer B. Clark, Senior Vice President
28
SEC EDGARSam Zell, Board member
29
SEC EDGAREllen-Blair Chube, Board member
30
SEC EDGARAnn Logan, Board member
31
SEC EDGARRonald J. Artinian, Board member
32
SEC EDGARGerald A. Spector, Board member
33
SEC EDGARJames A. Star, Board member
34
SEC EDGARMartin L. Edelman, Board member
35
SEC EDGARMary Jane Robertson, Board member
36
SEC EDGAREdward A. Glickman, Board member
37
SEC EDGARJames Lloyd Lozier Jr., Board member
38
SEC EDGARJames Scott Corl, Board member
39
SEC EDGARKenneth Shea, Board member
40
SEC EDGARPeter Linneman, Board member
41
SEC EDGARJoseph Morea, Board member
42
SEC EDGARBarry M. Portnoy, Board member
43
SEC EDGARAdam Portnoy, Board member
44
SEC EDGARFrederick N. Zeytoonjian, Board member
45
SEC EDGARPatrick F. Donelan, Board member
46
SEC EDGARWilliam A. Lamkin, Board member