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AvalonBay Communities Announces Market Common Clarendon Acquisition

ARLINGTON, Va., May 16, 2016 (BUSINESS WIRE) -- AVALONBAY COMMUNITIES, INC. AVB, -1.30% (“AvalonBay” or the “Company”) announced today that, together with Regency Centers Corporation (“Regency”), it has acquired Market Common Clarendon from TIAA Global Asset Management. The asset is comprised of a mixed-use development located in Arlington, VA that features 300 apartment homes, 300,000 square feet of retail and 100,000 square feet of additional space.

In order to facilitate the acquisition, AvalonBay and Regency have formed an agreement...