That is its shared purchase with Equity Residential (NYSE: EQR ) of Archstone Enterprise from Lehman Brothers late last year. AvalonBay Communities, Inc. (NYSE:AVB) will hold 40% of Archstone, the high-rent name among big apartment communities in urban hubs and it will expand AvalonBay's holdings in DC and Southern California. These Archstone projects in development will be very attractive to those Millennials as they have amenities like swimming pools, fitness centers, etc. Equity Residential (NYSE:EQR) will get four properties to AvalonBay Communities, Inc. (NYSE:AVB)'s three. The other advantage of the Archstone purchase is it skirts the southeast and Arizona.