AvalonBay Communities Reports on Fire at Avalon Maplewood in Maplewood, New Jersey
07 February 2017 - 8:15AM
Business Wire
AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the “Company”)
reported today that a fire occurred on Saturday, February 4, 2017
at the Company’s Avalon Maplewood apartment community located in
Maplewood, New Jersey. The community, which is currently under
construction, was unoccupied at the time of the incident. The cause
of the fire is under investigation.
The Company believes the losses caused by the fire will be
substantially covered by its insurance program and will not have a
material effect on the Company’s financial condition or results of
operations.
AvalonBay greatly appreciates the quick actions of local
emergency responders in extinguishing the fire, and we are thankful
that there are no reports of serious injury.
About AvalonBay Communities, Inc.
As of December 31, 2016, the Company owned or held a direct or
indirect ownership interest in 285 apartment communities containing
83,667 apartment homes in 10 states and the District of Columbia,
of which 27 communities were under development and four communities
were 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 the Northern and Southern California regions of the
United States. More information may be found on the Company’s
website at http://www.avalonbay.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Federal securities laws. You
can identify these statements by our use of the words “assumes,”
“believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,”
“projects,” “may,” “shall,” “will” and similar expressions that do
not relate to historical matters. You should exercise caution in
interpreting and relying on forward-looking statements because they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company’s control and could
materially affect actual results, performance or achievements.
These factors include, without limitation, the actual coverage from
the insurance program described above and the effects, if any, on
the Company’s financial condition and results of operations, in
both cases relating to the fire described above, and other risks
and uncertainties detailed from time to time in the Company’s
filings with the Securities and Exchange Commission. The Company
does not undertake a duty to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Copyright © 2017 AvalonBay Communities, Inc.
All Rights Reserved
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version on businesswire.com: http://www.businesswire.com/news/home/20170206006094/en/
Investor Relations Contact:AvalonBay Communities,
Inc.Jason ReilleySenior DirectorInvestor
Relations703-317-4681orMedia Relations Contact:AvalonBay
Communities, Inc.Kurt ConwaySenior Vice PresidentBrand Strategy
& Marketing703-317-4611
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