AvalonBay Communities / AVB
About AvalonBay Communities
2900 Eisenhower Ave., Suite 300, Alexandria, Va. 22314
www.avalonbay.com
| 703-329-6300
| Founded: 1993
Industry: Real Estate | Category: Public Companies
In 2005, the company started a fund that has $850 million in it to purchase properties. Last year, using that fund, the company spent more than $200 million to buy a 50 percent interest in apartment buildings in New Jersey, California, Illinois and Maryland.
It also paid $35.8 million for Southgate Crossing, a complex of 215 apartments in Columbia. The company bought out its partner in a complex in Lawrenceville, N.J. And it sold four complexes and land for $281 million.
For the year, the company reported funds from operations, a common measure of profitability used by real estate investment trusts, of $330 million ($4.38 a share), up from $281 million ($3.77). Its profit dropped 14 percent, to $278.4 million ($3.57) from $322.4 million ($4.21).
Chairman and CEO: Bryce Blair
2006 Financial Data
Revenues: $737,300,000 | Net Income: $266,546,000Asssets: $5,845,491,000 | Earnings Per Share: $3.42
Stockholder Equity: $2,573,154,000 | Annual Dividend: $3.12
Total employees: 1,767 | Local employees: 1,700
Company Leadership
| Bryce Blair | Chairman and CEO |
| Timothy J. Naughton | President |
| Thomas J. Sargeant | CFO |
| Leo S. Horey | EVP, Operations |
| Lili F. Dunn | SVP, Investments |
Source: Compensation data provided by Equilar, Inc..
| Bryce Blair Chairman and CEO | $4,768,803 Salary: $754,279 |
| Timothy J. Naughton President | $2,622,541 Salary: $487,637 |
| Thomas J. Sargeant CFO | $2,316,947 Salary: $420,464 |
| Leo S. Horey EVP, Operations | $1,468,165 Salary: $346,188 |
| Lili F. Dunn SVP, Investments | $884,719 Salary: $298,077 |
Did You Know
AvalonBay Communities Inc. is a real estate investment trust that owns, develops and manages apartments. It owns or has interest in 171 complexes, with 49,402 apartments, in 10 states and in the District.