AvalonBay Communities (AVB) prices $350 million 5.00% senior notes offering.

AvalonBay Communities, Inc. announced today that it has priced an offering of $350 million 5.000% senior unsecured notes due 2033. The notes were priced to yield 5.050% or +135 basis points to the benchmark treasury.

AvalonBay Communities, Inc. (AVB) is an equity REIT focusing on the ownership, management and development of Class-A apartment communities in major metropolitan centers across the U.S. The current portfolio included interests in 275 operating properties and 18 development communities with 88,405 total units. AVB has a total market capitalization of approximately $33 billion and is a member of the S&P 500.