Davis Polk advised the forward purchasers and forward sellers in connection with an at-the-market forward underwriting program for the offer and sale of shares of common stock of AvalonBay Communities, Inc. from time to time having an aggregate offering price of up to $1 billion.

AvalonBay Communities, Inc. develops, redevelops, acquires, owns and operates multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest and Northern and Southern California.

The Davis Polk equity derivatives team included partners Mark M. Mendez and Mark J. DiFiore and associate Justin Lashley. All members of the Davis Polk team are based in the New York office.

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