AvalonBay Communities Inc. / AVB
Fred Harris, Senior Vice President of Development for New York City , Mayor Joseph Delfino, Councilman Benjamin Boykin, Council President Rita Malmud break ground at Avalon White Plains. (Photo: Courtesy of company.)
About AvalonBay Communities Inc.
2900 Eisenhower Ave., Suite 300, Alexandria, Va. 22314
www.avalonbay.com
| 703-329-6300
| Founded: 1993
Industry: Real Estate | Category: Top 100 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
2007 Financial Data
Total employees: 1,767 | Local employees: 1,700Company 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..
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.
