AvalonBay Communities announced that Same Store Residential rental revenue for the two months ended August 31, 2023, increased 5.3% over the prior year period. This is approximately 40 basis points above what the Company’s expectation was for Same Store Residential rental revenue growth for this two-month period when the Company published its updated outlook for full year 2023 Same Store Residential rental revenue growth on July 31, 2023.
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