Headquartered in Richmond Heights, Ohioa, Associated Estates Realty Corporation is one of the real estate investment trust (REIT) firms that focus its resources on the ownership and development of multifamily apartment units.
The company is being managed by Fairfield Residential and has a portfolio of about 49 apartment communities. It continues to operate in some of the most desirable neighborhoods across America. In total, these properties have about 12,700 apartment units. In addition to these properties, Associated Estates Realty Corporation also manages a commercial building in Los Angeles, California that has a total of 78,800 total spaces for office and commercial use. As a REIT, the company is obliged to return at least 90% of its total revenue back to its shareholders for the company to remain free from federal tax obligations.
It remains publicly traded on the New York Stock Exchange and markets its common shares using the ticker symbol AEC.
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