AvalonBay Communities / 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
2900 Eisenhower Ave., Suite 300, Alexandria, Va. 22314
www.avalonbay.com
| 703-329-6300
| Founded: 1993
Industry: Real Estate | Category: Public Companies
The developer is the country's second-largest real estate investment trust specializing in apartments, with more than 50,000 units. In 2008, it took an impairment loss of $57.9 million related to land it decided not to develop and paid out $3.4 million related to severances. Although 2009 will bring population growth in the age groups most likely to rent and less home-buying activity, AvalonBay expects unemployment to offset any gains from those factors.
Chairman and CEO: Bryce Blair
2008 Financial Data
Revenues: $854,208,000 | Net Income: $315,947,000Asssets: $7,173,374,000 | Earnings Per Share: $4.07
Stockholder Equity: $2,916,396,000 | Annual Dividend: $3.57
Total employees: 1,927 | Local employees: 350
