AvalonBay Communities Inc., an apartment development and management company based in Alexandria, Va., has priced $500 million of medium-term unsecured notes.The offering consists of $250 million of five-year notes and $250 million of 10-year notes, AvalonBay said. The 5.50% five-year notes, due Jan. 15, 2012, were priced at 99.619, and the 5.75% 10-year notes, due Sept. 15, 2016, were priced at 99.478. AvalonBay can be found online at http://www.avalonbay.com.
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