About the Company
AvalonBay Communities (NYSE: AVB) is a real estate investment trust (REIT) based in Virginia, United States. It has a history in development, redevelopment, acquisition and management of multifamily houses in the US. In 1998, AvalonBay Communities was formed as a result of the $2 billion merger of two real estate trusts - Bay Apartment Communities Inc. and Avalon Properties Inc. Following this merger, AvalonBay Communities emerged as one of the largest developers of luxury apartments in the US market. AVB, with a market cap of $28.8 billion, was one of the largest REITs in the country and internationally in 2019.
Its shares trade on the New York Stock Exchange (NYSE) under the ticker symbol “AVB”. AVB share is also a component in the S&P-500 index. Forbes included the company in its list of America’s Largest Public Companies and World’s Best Employers in 2018. In 2019, it was recognised by Science Based Targets as one of the companies to reduce its emissions in line with climate change. As of 2020, AVB’s net worth was valued at $23.57 billion. It ranked 913th on the Fortune-1000 list of companies and 984th on Forbes’ Global 2000. Newsweek also named it as one of the Most Responsible Companies in 2019.
AVB operates through three differentiated apartment community brands, namely Avalon, Eaves by Avalon and AVA. AvalonBay, along with Equity Residential, acquired Archstone Enterprise LP in 2013 in a transaction that was valued at approximately $9 billion. AvalonBay Communities, with this major acquisition, expanded its portfolio as well as its presence in the market. As of 2020, it has operations in the best US markets, such as Colorado, Northern and Southern California, Southeast Florida, and several others. AVB owns a total of 86,676 communities across the country.;
Organisation | Avalonbay Communities Inc |
Industry | REIT—Residential |
HeadQuarters | Arlington, VA |