AvalonBay draws down $750 million under credit facility

By Wendy Van Sickle

Columbus, Ohio, March 25 – AvalonBay Communities, Inc. has drawn $750 million from its $1.75 billion credit facility during this period of elevated uncertainty, according to a press release.

The credit facility matures on Feb. 28, 2024.

The company said it had access to about $1.8 billion of liquidity as of Wednesday.

AvalonBay manages and develops apartment communities and is based in Arlington, Va.

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