REIT focused on developing, redeveloping, acquiring, and managing multifamily communities primarily in high barrier-to-entry markets.
As of December 31, 2020, the company owned or had a direct or indirect ownership stake in 291 apartment communities encompassing 86,025 apartment homes spread across 11 states and the District of Columbia. This portfolio included 18 communities in various stages of development and one community undergoing redevelopment. Functioning as an equity real estate investment trust (REIT), the company focuses on developing, redeveloping, acquiring, and managing apartment communities located in key metropolitan areas. These areas include New England, the New York/New Jersey Metro area, the Mid-Atlantic region, the Pacific Northwest, Northern and Southern California, as well as the company's expansion markets: Southeast Florida and Denver, Colorado (collectively referred to as the "Expansion Markets").
Specializing in residential real estate, the company strategically positions itself in high-demand urban and suburban locations known for their economic vitality and demographic attractiveness. By leveraging its expertise in property development and management, the company aims to enhance the quality of living for its residents while delivering sustainable value to its shareholders. The ongoing development and redevelopment projects underscore its commitment to meeting evolving market demands and maintaining a competitive edge in the multifamily housing sector.
With a robust presence in diverse geographic markets, the company benefits from a diversified portfolio that mitigates risk and maximizes opportunities for growth. Through prudent investment strategies and a customer-centric approach, the company continues to expand its footprint and strengthen its position as a leading player in the residential real estate market across the United States.