AvalonBay Communities Inc., Alexandria, Va., has priced a public offering of 4.0 million shares of common stock that was timed to coincide with AvalonBay's inclusion in the S&P 500.The real estate investment trust said the net proceeds of approximately $594 million will be used for general corporate purposes. The underwriters have been granted an option to buy up to an additional 600,000 shares to cover any overallotments. The multifamily REIT can be found online at http://www.avalonbay.com.

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