AvalonBay Prices 14.5M Share Common Stock Offering at $130/Share - AvalonBay Communities (NYSE:AVB)

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AvalonBay Communities, Inc. (NYSE: AVB) announced Wednesday the pricing of a public offering of 14,500,000 shares of common stock at $130.00. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares. Settlement of the sale will occur on December 5, 2012. The Company expects to use the net proceeds from the offering of approximately $1.8 billion net of underwriting fees and estimated expenses to repay a portion of the debt that the Company will assume in connection with its previously announced pending acquisition of certain assets of Archstone Enterprise LP (the “Archstone Acquisition”), to fund the cash consideration due in connection with the Archstone Acquisition, and to

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