The Group's principal activity is that of an investment trust. The Group acquires, develops, constructs, markets, leases and manages apartment communities. The Group has been approved as an Investment Trust Company under Sections 856 of the Internal Revenue Code of 1986. At 30-Sep-2009, the Group owned interest in 172 apartment communities containing 50,114 apartment homes in ten states and the District of Columbia, of which 9 communities were under construction and 6 communities were under reconstruction. The Group's markets are located in the Northeast, Mid-Atlantic, Midwest, Pacific Northwest, and Northern and Southern California regions of the United States.
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