Benjamin Schall

AvalonBay develops, redevelops, acquires, and manages apartment communities ranging from urban high-rise towers to suburban garden-style communities. AvalonBay benefits from powerful structural tailwinds: a chronic US housing undersupply estimated at millions of units, deteriorating homeownership affordability (particularly in AvalonBay's coastal markets), demographic drivers (Millennials and Gen Z forming households), and zoning and permitting barriers that limit new supply in the company's core markets. These factors support sustained rent growth and high occupancy. Schall's key decisions involve development pipeline management, same-store revenue growth optimization, geographic portfolio composition, capital recycling, and managing the balance between development activity and leverage.