AvalonBay Communities, Inc. Awarded Nareit’s 2021 Residential Leader in the Light Award

Rhea-AI Summary

AvalonBay Communities, Inc. (NYSE: AVB) has been awarded the 2021 Leader in the Light Award by the National Association of Real Estate Investment Trusts (Nareit) for its excellence in environmental, social, and governance (ESG) practices, a title it previously held in 2020, 2019, 2015, 2013, and 2012. The award is based on the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey and recognizes REITs that excel in institutionalizing ESG within their operations. As of September 30, 2021, AvalonBay owned or held interests in 293 apartment communities with 87,416 homes.

Positive

• Recognized as 2021 Leader in the Light Award recipient by Nareit for ESG performance.
• Previous award wins in 2020, 2019, 2015, 2013, and 2012 enhance corporate reputation.
• Ownership of 293 apartment communities boosts market presence and operational scale.

Negative

• None.

ARLINGTON, Va.--(BUSINESS WIRE)-- AVALONBAY COMMUNITIES, INC. (NYSE: AVB) — The National Association of Real Estate Investment Trusts (Nareit) has again named AvalonBay Communities, Inc. the 2021 Leader in the Light Award recipient for the residential sector. The Company also received the award in 2020, 2019, 2015, 2013 and 2012.

Nareit's annual Leader in the Light Awards honor Nareit member companies that have demonstrated superior and sustained environmental, social and governance (ESG) practices. Now in their 16th year, the 2021 Leader in the Light Awards were presented to REITs in eight property sectors during Nareit’s REITworld: 2021 Annual Conference.

"AvalonBay’s commitment to corporate responsibility remains a top priority. We believe that to be a great company we need to take a multi-stakeholder approach to our business and be a leader in the area of ESG performance. We are honored to be recognized for the progress we’ve made in this part of our business through this recognition from Nareit,” said Timothy J. Naughton, Chairman and CEO of AvalonBay.

The 2021 Leader in the Light Awards are based on the results of the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey, as well as scored responses to supplemental questions by an interdisciplinary panel of judges.

“We are delighted to recognize AvalonBay Communities for setting an example for how REITs can institutionalize ESG within their business management and operations,” said Fulya Kocak, senior vice president, ESG issues, Nareit. “We are proud to recognize AvalonBay Communities for its achievements in sustainability and ESG practices.”

About AvalonBay Communities, Inc.

As of September 30, 2021, the Company owned or held a direct or indirect ownership interest in 293 apartment communities containing 87,416 apartment homes in 13 states and the District of Columbia, of which 17 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. More information may be found on the Company’s website at http://www.avalonbay.com. For additional information on the Company’s ESG efforts, please reference the most recent Corporate Responsibility report or contact Mark Delisi, Vice President of Corporate Responsibility at 703-317-4707.

Copyright © 2021 AvalonBay Communities, Inc. All Rights Reserved

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110005838/en/

Mark Delisi

Vice President

Corporate Responsibility

AvalonBay Communities, Inc.

703-317-4707

Source: AvalonBay Communities, Inc.

FAQ

What is the 2021 Leader in the Light Award for AvalonBay (AVB)?

The 2021 Leader in the Light Award recognizes AvalonBay for superior environmental, social, and governance (ESG) practices, awarded by Nareit.

How many apartment communities does AvalonBay (AVB) own as of September 30, 2021?

As of September 30, 2021, AvalonBay owned or held interests in 293 apartment communities.

How many apartment homes does AvalonBay (AVB) manage?

AvalonBay manages a total of 87,416 apartment homes across its 293 communities.

Is AvalonBay (AVB) recognized for its sustainability efforts?

Yes, AvalonBay has been recognized multiple times for its commitment to sustainability and ESG practices.

What sectors does AvalonBay (AVB) operate in?

AvalonBay is involved in developing, redeveloping, acquiring, and managing apartment communities in metropolitan areas across the U.S.