AVB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-30

• On May 20, 2026, the Company, Equity Residential, a Maryland real estate investment trust (“Equity Residential”), ERP Operating Limited Partnership, an Illinois limited partnership (the “ERP Operating Partnership”), and Canopy Merger Sub LLC, a Maryland limited liability company and a direct wholly …

• into an Agreement and Plan of Merger (the “Merger Agreement”). At the effective time of the Merger (the "Effective Time"), each outstanding share of AvalonBay common stock will be converted into the right to receive 2.793 Equity Residential common shares. The Transactions are expected to be complete…

• •Net income attributable to common stockholders for the three months ended June 30, 2026 was $155,720,000, a decrease of $112,945,000, or 42.0%, over the prior year period. The decrease was primarily attributable to a decrease in gains from real estate sales and an increase in expensed transaction, …

• •Same Store NOI attributable to our apartment rental operations, including parking and other ancillary residential ("Residential") revenue, for the three months ended June 30, 2026 was $488,552,000, an increase of $4,824,000, or 1.0%, over the prior year period. The increase was primarily attributab…

• •Other Stabilized Residential NOI for the three months ended June 30, 2026 was $19,549,000, an increase of $9,275,000, over the prior year period due to newly acquired and recently completed Development communities.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• •Net income attributable to common stockholders for the three months ended March 31, 2026 was $325,730,000, an increase of $89,133,000, or 37.7%, over the prior year period. The increase was primarily attributable to an increase in gains from real estate sales and NOI from communities, partially off…

• •Same Store NOI attributable to our apartment rental operations, including parking and other ancillary residential ("Residential") revenue, for the three months ended March 31, 2026 was $479,937,000, an increase of $1,087,000, or 0.2%, over the prior year period. The increase was primarily attributa…

• •Other Stabilized Residential NOI, for the three months ended March 31, 2026 was $19,014,000, an increase of $15,713,000, over the prior year period due to newly acquired and recently completed Development communities.

• At March 31, 2026, we owned or held a direct or indirect interest in:

• •25 wholly-owned communities under construction, which are expected to contain 8,673 apartment homes with a projected total capitalized cost of $3,390,000,000.

Text added vs the prior filing · source: 10-Q · 2026-07-30

• The Merger is subject to conditions, some or all of which may not be satisfied or completed on a timely basis, if at all. Failure to complete the Merger could have material adverse effects on the Company. The completion of the Merger is subject to a number of conditions, including, among others, the…

• If the Merger is not completed, the Company’s ongoing business may be materially adversely affected and, without realizing any of the benefits of having completed the Merger, the Company will be subject to a number of risks, including the following:

• •we could owe substantial termination fees to Equity Residential under certain circumstances;

• •if the Merger Agreement is terminated and the Company’s board seeks another business combination, our stockholders cannot be certain that we will be able to find a party willing to enter into a transaction on terms equivalent to or more attractive than the terms agreed to in the Merger Agreement;

• •time, resources, and costs committed by our management team to matters relating to the Merger could otherwise have been devoted to pursuing other beneficial opportunities for the Company;