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Article: Avalon Bay Communities Inc., Cornerstone Realty Income Trust Added To S&P REIT Composite Index.
- Article from:
- Business Wire
- Article date:
- June 3, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--June 3, 1998--Standard & Poor's Financial Information Services will replace Bay Apartment Communities (BYA) and Avalon Properties (AVN) in the S&P REIT Composite Index with Avalon Bay Communities Inc. (AVB) and Cornerstone Realty Income Trust (TCR) after the close of trading on Thursday, June 4, 1998. Avalon Bay Communities is the company formed by the merger of Bay Apartment Communities and Avalon Properties. The merger is expected to close on that date.
Cornerstone Realty Income Trust is a self-administered and self-managed REIT focusing on multifamily properties in select markets in Virginia, North Carolina, South Carolina, and Georgia. ...