AvalonBay Communities, Inc. (NYSE: AVB)
announced today that its Board of Directors has nominated Glyn F. Aeppel to stand for election to the company’s Board of Directors at its upcoming Annual Meeting of Stockholders, to be held on May 22, 2013. Ms. Aeppel, 54, is president and chief executive officer of Glencove Capital, a hotel investment and advisory company she founded in June 2010. Ms. Aeppel has more than 25 years of experience in property acquisitions, development and financing, including executive positions with Andre Balazs Properties and Loews Hotels.
“AvalonBay will benefit from Glyn’s substantial experience in many facets of the real estate business,” said Timothy J. Naughton, CEO, who has been appointed Chairman of the Board effective following his re-election to the Board at the Annual Meeting. Added Lance Primis, Lead Independent Director, “Glyn will add an additional independent voice to our Board, and we look forward to working with her.”
About AvalonBay Communities
As of March 1, 2013, including the effect of the Archstone Transaction that occurred on February 27, 2013, the Company owned or held an interest in 273 apartment communities containing 81,970 apartment homes in twelve states and the District of Columbia, of which 28 communities were under construction and five communities were under reconstruction. AvalonBay is in the business of developing, redeveloping, acquiring, and managing apartment communities in high barrier-to-entry markets of the United States. More information on AvalonBay, an S&P 500 listed company, may be found on AvalonBay's website at