AvalonBay Inc. is a real estate investment firm that develops, owns and operates residential communities. The company focuses on upper class apartments. The company was founded in 1978 and re-established in 1995, when it began focusing on residential communities. It currently has 293 properties containing about 86,000 apartments, concentrated in high-wage areas. The company’s portfolio is diversified, with luxury urban high-rise buildings and smaller communities in suburban areas. The company is concentrated in New England, New York/New Jersey, and California, but has assets in 20 markets and 12 states. About 20% of rents are from New England and Metro NY/NJ properties and 11.5% is from expansion markets. Loop 1’s suburban assets have performed well, and future expansion is focused on new suburban areas with retail space on the ground floor. AVB stock is a component of the S&P 500 Index.
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