M&A Deal Summary

AvalonBay Communities Acquires Verona Apartments

On May 13, 2009, AvalonBay Communities acquired real estate company Verona Apartments for 33M USD

Acquisition Highlights
  • This is AvalonBay Communities’ 7th transaction in the Real Estate sector.
  • This is AvalonBay Communities’ 11th largest (disclosed) transaction.
  • This is AvalonBay Communities’ 7th transaction in the United States.
  • This is AvalonBay Communities’ 1st transaction in Washington.

M&A Deal Summary
Date 2009-05-13
Target Verona Apartments
Sector Real Estate
Buyer(s) AvalonBay Communities
Deal Type Add-on Acquisition
Deal Value 33M USD

Target

Verona Apartments

Seattle, Washington, United States
Verona Apartments, a community of 220 homes in downtown Bellevue, the community is a four story mid-rise over two levels of parking and is located near the Company's existing Avalon Bellevue community. Verona provides easy access to I-405 and over 12 million square feet of retail, entertainment and office space.

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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 7 of 13
Sector (Real Estate) 7 of 13
Type (Add-on Acquisition) 7 of 13
State (Washington) 1 of 1
Country (United States) 7 of 13
Year (2009) 1 of 1
Size (of disclosed) 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-20 Versailles Apartment Community

New York, United States

Versailles Apartment Community is adjacent to the Garden State Parkway providing access to employment centers in New York City and New Jersey. Additionally, the community is within walking distance to the Aberdeen-Matawan New Jersey Transit rail station, which provides rail service to Newark and New York City.

Buy $58M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-08 Creekside Meadows Apartments

Tustin, California, United States

Creekside Meadows, a community of 628 apartment homes, is situated adjacent to the I-5 Santa Ana Freeway, providing convenient access to employment centers throughout Orange and Los Angeles counties. The community is also close to other transportation links including the Tustin Metrolink train station and John Wayne Airport.

Buy $99M
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