Investor Information

AvalonBay Communities, Inc. is a real estate investment trust (a "REIT") focused on developing, redeveloping, acquiring and managing high-quality apartment communities in high barrier-to-entry markets of the United States. These markets are in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest, Northern California and Southern California regions of the country. At September 30, 2007, AvalonBay owned or held an interest in 182 apartment communities containing 51,898 apartment homes in ten states and the District of Columbia, of which 19 communities were under construction and 9 communities were under reconstruction. In addition, we held future development rights for 52 communities. 

These 182 apartment communities are located in 16 high barrier-to-entry markets characterized by a low supply of zoned apartment land and lengthy and contentious entitlement processes.  Our strategy is to focus on our chosen core markets and to become the market leader in each of these markets.  Please see Portfolio Overview for a listing of the markets.