AvalonBay Communities is a real estate investment trust (REIT) specializing in the development, acquisition, and management of apartment communities. The company focuses on high-quality residential properties in leading metropolitan areas across New England, the New York/New Jersey Metro area, and the Mid-Atlantic region. AvalonBay's portfolio encompasses 296 apartment communities with 89,240 apartment homes across 12 states and the District of Columbia.

The company's investment strategy includes supporting innovative startups in the property technology sector. Notable investments include Bilt Rewards, a loyalty program for renters, and EliseAI, an AI-powered leasing assistant. AvalonBay's expertise in property management and development allows them to provide valuable insights and resources to their portfolio companies, enhancing their potential for success in the real estate and technology markets.

Concentration shown as share of disclosed investments by stage.