M&A Deal Summary

AvalonBay Communities Acquires Grove Park Apartment Community

On October 7, 2010, AvalonBay Communities acquired real estate company Grove Park Apartment Community for 101M USD

Acquisition Highlights
  • This is AvalonBay Communities’ 10th transaction in the Real Estate sector.
  • This is AvalonBay Communities’ 3rd largest (disclosed) transaction.
  • This is AvalonBay Communities’ 10th transaction in the United States.
  • This is AvalonBay Communities’ 2nd transaction in Maryland.

M&A Deal Summary
Date 2010-10-07
Target Grove Park Apartment Community
Sector Real Estate
Buyer(s) AvalonBay Communities
Deal Type Add-on Acquisition
Deal Value 101M USD

Target

Grove Park Apartment Community

Gaithersburg,, Maryland, United States
Grove Park is located close to I-270 along Montgomery County’s “Biotechnology Corridor”, a major employment center. Completed in 1974, the community’s apartment interiors were extensively renovated in 2005-2006. Grove Park is also located within five miles of three other AvalonBay communities and will complement the local portfolio by providing diversification by both location and price point.

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Buyer(S) 1

Buyer

AvalonBay Communities

Arlington, Virginia, United States
Category Company
Sector Real Estate
Employees2,978
Revenue 2.8B USD (2023)
DESCRIPTION

AvalonBay Communities develops, redevelops, acquires, and manages high-quality apartment communities in the high barrier-to-entry markets of the United States. The Company has several communities under construction and reconstruction, as well as holding future development rights for other communities. AvalonBay Communities is based in Arlington, Virginia.

DEAL STATS #
Overall 10 of 13
Sector (Real Estate) 10 of 13
Type (Add-on Acquisition) 10 of 13
State (Maryland) 2 of 3
Country (United States) 10 of 13
Year (2010) 3 of 3
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-07 Briarwood Apartment Community

Owings Mills,, Maryland, United States

Briarwood, a community of 348 apartment homes,submarket of metropolitan Baltimore offers high quality suburban living convenient to both employment and transportation. Completed in 1999, the community includes several townhome-style apartment homes and detached garages.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-06 Yale Village Townhomes

Rockville,, Maryland, United States

Yale Village Townhomes, a community of 210 rental townhomes. Good schools, transit, employment and shopping are all within close proximity.the community consists of 100% direct-entry rental townhome product averaging 1,923 SF per home.

Buy $50M
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