AvalonBay Communities, Inc. is a real estate investment trust (REIT). The Company engages in the development, redevelopment, acquisition, ownership and operation of multifamily communities in high barrier-to-entry markets of the United States. Its markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest, and Northern and Southern – more... California regions of the United States. As of January 31, 2008, it owned or held a direct or indirect ownership interest in 163 operating apartment communities containing 45,932 apartment homes in 10 states and the District of Columbia, of which 12 communities containing 4,006 apartment homes were redevelopment communities and 20 communities containing 4,229 apartment homes were held by the Fund, which the Company manages, and in which it owns a 15.2% equity interest; 21 communities under construction, and rights to develop an additional 48 communities.
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