艾芙隆海湾社区 2025年度报告
AVALONBAY COMMUNITIES, INC. ANNOUNCES2025 OPERATING RESULTS, 1.7% DIVIDEND INCREASE (Arlington, VA) AvalonBay Communities, Inc. (NYSE: AVB)(the“Company”)reported Earnings per Share–diluted(“EPS”),Funds from Operations attributable to commonstockholders - diluted (“FFO”) per share and Core FFO per The following table compares the Company’s actual resultsfor EPS, FFO per share and Core FFO per share for thethree months ended December 31, 2025 to its October The following table compares the Company’s actual resultsfor EPS, FFO per share and Core FFO per share for thethree months ended December 31, 2025 to its results for The following table compares the Company’s actual resultsfor EPS, FFO per share and Core FFO per share for theyear ended December 31, 2025 to its results for the prior Includingthe expansion of Avalon Tech Ridge I,thesecommunities are expected to contain an aggregate of 1,378apartment homes for an estimated Total Capital Cost of$592,000,000. Avalon Townhome Collection Arundel Mills is Same Store Operating Results for the Three Months Same Store Residential revenue increased $11,825,000, or1.8%, to $680,523,000. Same Store Residential operatingexpenses increased $6,040,000, or 2.9%, to $213,377,000and Same Store Residential NOI increased $5,785,000, or During the year ended December 31, 2025, the Company: SameStore Operating Results for the Year Ended completed the development of four wholly-ownedcommunitiescontaining an aggregate of 1,320 Same Store Residential revenue increased $66,107,000, or2.5%, to $2,712,066,000. Same Store Residential operatingexpenses increased $31,509,000, or 3.8%, to $851,659,000and Same Store Residential NOI increased $34,598,000, or startedtheconstructionof11apartmentcommunities and expanded the development ofAvalonPleasanton and Avalon Tech Ridge I.These communities are expected to contain an Development Activity During the three months ended December 31, 2025, theCompany completed the development of two wholly-owned •Avalon Hunt Valley West, located in Hunt Valley, MD; and•Avalon South Miami, located in South Miami, FL. At December 31, 2025, the Company had 24 wholly-ownedDevelopmentcommunities under construction that areexpected to contain 8,572 apartment homes and 69,000 These communities contain an aggregate of 612 apartmenthomes and 32,000 square feet of commercial space. These Disposition Activity During the three months ended December 31, 2025, theCompanystarted the construction of five apartment During the year ended December 31, 2025, the Companysoldnine wholly-owned communitiescontaininganaggregate of 2,102 apartment homes and 38,000 squarefeet of commercial space. These communities were sold for •Avalon Northwest Hills, located in Austin, TX;•Kanso Parsippany, located in Parsippany, NJ;•Avalon Billerica, located in Billerica, MA;•Avalon San Ramon, located in San Ramon, CA; In January 2026, the Company sold Avalon Sunset Towers,locatedin San Francisco,CA.Avalon Sunset Towers In addition, during the three months ended December 31,2025, the Company expanded its existing development ofAvalon Tech Ridge I, located in Austin, TX. The expandeddevelopmentwillincludeanadditional100rental Acquisition Activity During the three months ended December 31, 2025, theCompanyacquired Avalon Townhome Collection Brier During the year ended December 31, 2025, the Companyborroweda total principal amount of$1,350,000,000,consisting of unsecured notes and borrowings under theterm loan, at a weighted average effective rate of 4.64%, Creek,located in Durham,NC,containing 93 rentaltownhomes for a purchase price of $36,500,000. During the year ended December 31, 2025, the Companyacquired12 communities containing 3,378 apartmenthomes for a total purchase price of $841,950,000. Thisamount includes the agreed-upon value of the DownREIT In addition, during the year ended December 31, 2025, theCompany (i) amended and restated its Credit Facility toincreaseits borrowing capacity to$2,500,000,000 andextend the maturity date to April 2030, and (ii) increased the Additionally, during the year ended December 31, 2025, theCompany acquired its joint venture partner's 50% interest inAvalonAlderwood Place,located in Lynnwood,WA,containing 328 apartment homes for a purchase price of As of December 31, 2025, the Company did not have anyborrowings outstanding under its Credit Facility and had Structured Investment Program ("SIP") Activity During the year ended December 31, 2025, the Companyentered into two new SIP commitments, agreeing to providean aggregate investment of up to $48,000,000 in multifamily As of February 2, 2026, the Company had outstandingborrowingsof$775,000,000underitsunsecured Liquidity and Capital Markets The Company’s annualized Net Debt-to-Core EBITDAre (asdefined in this release) for the fourth quarter of 2025 was At December 31, 2025, the Company had $187,234,000 inunrestricted cash and cash equivalents. Debt Activity Equity Activity
