It is with tremendous pride that we reflect on all we have accomplished as a public company.
In 1994, Avalon and Bay were led by entrepreneurial executives who had a vision of creating an evergreen apartment company, united by a common purpose and set of values, which could become a leader in the modern REIT era.
AvalonBay today is largely a fulfillment of that vision—an apartment company that has successfully transitioned from one generation of leaders to another, all while maintaining our position as a leading apartment REIT serving the most attractive customer segments in the best performing markets.
Avalon Properties IPO 22 communities, 7,000 apartment homes, 470 associates
Bay Communities IPO 10 communities, 2,400 apartment homes, 180 associates
Avalon Properties completes the development of Avalon Cove (Jersey City, NJ), its first mid-rise development.
AvalonBay is formed establishing the first bicoastal multifamily REIT that develops, redevelops, acquires and manages multifamily apartment communities.
AvalonBay completes the development of Avalon Towers by the Bay (San Francisco, CA), its first West Coast high-rise development.
AvalonBay completes the development of Avalon Chrystie Place (New York, NY), its first Manhattan mixed-use development for Total Capital Costs of $150 million.
AvalonBay becomes the 12th REIT to join the S&P 500.
AvalonBay introduces the AVA and eaves apartment brands.
AvalonBay closes Archstone acquisition, adding 60 communities and 20,000 apartment homes to the portfolio.