AvalonBay Communities
 |
|
| Public | |
| Traded as | : AVB S&P 500 Component |
| Industry | Multi-Family Real estate |
| Predecessor | Bay Apartment Communities, Inc. |
| Founded | 1978 |
| Headquarters | Arlington, Virginia, U.S. |
|
Key people
|
Timothy J. Naughton (CEO) |
| Products | Apartments |
| Services | Property Management |
|
Number of employees
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2,981 |
| Website |
www |
AvalonBay Communities, Inc. is a publicly traded real estate investment trust focused on developing, redeveloping, acquiring and managing high-quality apartment communities in high barrier-to-entry markets of the United States. These markets are in the Northeast, Mid-Atlantic, Pacific Northwest, Northern California and Southern California regions of the country.
AvalonBay was added to the S&P 500 in 2007, the 12th REIT added to the list.
Bay Apartment Communities, Inc. was formed as a REIT in 1994 with 10 communities and 2,400 apartment homes.
Avalon Properties became public in 1993 with 22 communities and 7,000 apartment homes. The two companies continued to grow until they merged in 1998, forming the first bicoastal multifamily REIT, consisting of 126 communities and 37,000 apartment homes. In February 2013, AvalonBay acquired 40% of Archstone’s assets as part of an acquisition in partnership with Equity Residential. The acquisition added 60 communities and 20,000 apartment homes to the portfolio, bringing the total holdings to 245 communities and 73,477 apartment homes as of March 31, 2013.
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