Adjusted FFO per share of $1.70 up 4.9% from a year ago.
Established Communities now includes the assets acquired as part of the Archstone purchase, and average rental rates increased 3.2% Y/Y, partially offset by a 10 basis point drop in occupancy. NOI for established communities of $230M gained 2.8%. Rental rate increases were particularly strong in the Pacific Northwest and Northern California.
Q3 adjusted FFO per share expected at $1.69-$1.75, and full-year adjusted FFO per share at $6.73-$6.87.
AVB no trades AH