AvalonBay Communities Inc owns and develops mixed-use real estate properties across the United States.
The present company was formed in 1998 as result of merger between two separate firm, Avalon Properties and Bay Communities.
The real estate investment trust acquires, develops, owns, redevelops and operates multifamily communities and residential properties across the United States. The REIT’s unit trade on NYSE under the ‘AVB’ quote.
The US-based registered REIT aims to provide affordable housing options for all and focuses on making continuous improvements. The real estate investment trust is domiciled in Virginia.
The real estate investment trust claims to be in the developing and acquiring business for over 25 years now. It primarily operates in the US markets in Mid-Atlantic, Northeast, Pacific Northwest, Southern and Northern California, South East Florida and Colorado.
The firm claims to have nearly 272 apartment communities as of December 2020, representing nearly 79,800 units in 11 states of the US and Columbia. In addition, the real estate investment trust claims to have right for development of 24 communities that will reportedly hosts 7,853 apartment homes.
Avalon, eaves by Avalon, and Avalon Live Modern are its sister brands. The real estate investment firm claims to have association with various retail partners for providing the residents with different services.
The US-based REIT mainly focuses on building and maintaining mix-use property portfolio. In addition, it claims to offer alternative solutions for old retail assets by redeveloping them into promising real estate properties. Through this, the firm claims to help the customers in preventing from reducing their excess retail capacity.
The real estate investment trust also provides streamlined execution solutions for its retail partners.
The American real estate investment trust acquired nine apartment communities in 2019. Furthermore, it purchased interest in one operating community from its joint venture partner and increased its stake to 100 per cent in that property.