AvalonBay is a Virginia-based real estate company close to 80,000 apartment units in the New York metro area, the Washington D.C. metro area, Seattle and California. It is now the third largest apartment unit holder in America. The company was formed in 1998 as a result of the merger between Avalon Properties Inc. and Bay Apartment Communities Inc.
As of the end of the third quarter, 29 hedge funds tracked by Insider Monkey held stakes in Avalon, down from 34 funds a quarter earlier. Daniel Sundheim’s D1 Capital Partners owns 2.68 million shares of the company, worth 399.81 million.