AvalonBay Communities (NYSE:AVB) now sees Q2 total revenue for established communities up 2.4%-2.5%, up about 15 basis points from when AVB issued full-year outlook on Jan. 31.
During the quarter-to-date: AVB sold two operating communities for $195M, has two more communities under contract or in advanced marketing for expected aggregate sale price of about $280M, and started construction on two new communities for expected aggregate total cost of about $205M.
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