At AvalonBay, we're driven by a bold purpose: creating a better way to live. We do this by providing distinctive apartment living experiences and contributing to the vitality of local communities. AvalonBay Communities, Inc. is a real estate investment trust (a "REIT") focused on developing, redeveloping, acquiring and managing high-quality apartment communities in high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Pacific Northwest, Northern and Southern California, Colorado and Southeast Florida regions of the country. As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment.