AvalonBay Communities, Inc. is in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in the high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Pacific Northwest and Northern and Southern California regions of the country. The Company owns, or holds interests in, hundreds of apartment communities with over 80,000 housing units in these markets. In addition, at any given time, the Company has a number of communities under construction and reconstruction, as well as holding future development rights for other communities. AvalonBay Communities, Inc.'s common stock trades on the New York Stock Exchange and under the ticker symbol "AVB."
We elected to be taxed as a REIT for federal income tax purposes for the year ending December 31, 1994, and we have not revoked that election. We were incorporated under the laws of the State of California in 1978 and were reincorporated in the State of Maryland in June 1995. Our principal executive offices are located at Ballston Tower, 671 N. Glebe Road, Suite 800 Arlington, VA 22203 and our telephone number at that location is (703) 329-6300. We also maintain regional offices and administrative or specialty offices in or near the following cities: San Jose, California; San Francisco; Shelton, Connecticut; Boston, Massachusetts; Newport Beach, California; New York, New York; Woodbridge, New Jersey; Virginia Beach, Virginia; and Seattle, Washington.
Special Note: Statements in the AvalonBay Communities, Inc. web site relating to AvalonBay's ownership, management, development and acquisition of multifamily apartment communities are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, local economic and market conditions which are beyond management's control and may adversely affect occupancy rates and market rents; the possibility that the we may not be able to successfully integrate large portfolio acquisitions in new markets with our current business operations; and additional factors discussed periodically in our reports filed with the Securities and Exchange Commission.