AvalonBay Communities, Inc. (NYSE:AVB), a real estate investment trust (REIT) with multifamily apartment communities in high barrier-to-entry markets of the United States, recently announced the introduction of two new apartment community brands, “AVA” and “eaves.” The new brands will be offered in addition to the Company’s existing apartment community brand, “Avalon,” giving AvalonBay a broader platform to meet the distinct needs of a wider range of customers. Over time, the Company expects these new brands to comprise a significant portion of its portfolio and contribute to earnings growth.
As of September 30, 2011, the Company owned, or held an indirect or direct ownership interest in, 199 apartment communities containing 57,426 apartment homes in 10 states and the District of Columbia, of which 15 communities were under construction and eight communities were under redevelopment.
