AvalonBay Communities, Inc. announced today that Pamela Thomas will join AvalonBay as Executive Vice President, Portfolio and Asset Management.
“As we continue to optimize our portfolio to deliver superior growth, this is the right time to expand our executive team to provide focused leadership on portfolio and asset management and an additional voice on strategic planning,” said Benjamin Schall, CEO. “Pamela brings extensive real estate investment, asset management and multifamily experience, strong industry relationships built over a 30-year career, and a collaborative style that will work well within our Company culture. I’m thrilled that she is joining us.”
Pamela Thomas will report to Mr. Schall and partner with the other members of the executive team to further enhance the Company’s industry leadership and drive superior growth in the years ahead. Ms. Thomas will also be a voting member of the Company’s Management Investment Committee, which reviews and approves proposals for development, acquisitions and major capital improvements.
Pamela Thomas was most recently Managing Director, member of the Global Leadership Team, and Head of US Real Estate Investment for CPP Investments (CPP), which invests the funds held by the Canada Pension Plan, one of the world’s largest investors. At CPP, Ms. Thomas managed the U.S. team and led investments and dispositions across multiple real estate sectors, and she also served on CPP’s Global Real Estate Investment Committee.
Prior to joining CPP, Ms. Thomas was Executive Director with JP Morgan Asset Management, responsible for that firm’s New York and Northern New Jersey multifamily portfolio, and previously she was with RREEF/Deutsche Bank, where she was primarily focused on East Coast multifamily investments. Ms. Thomas’s experience also includes leading joint venture negotiations, partner relationship management, financing strategies, and developing asset management strategies. Ms. Thomas is a graduate of New York University and is a member of WX Women Executives in Real Estate, the National Multifamily Housing Council, and the Urban Land Institute UDMUC Red council.
“I have long admired AvalonBay’s track record of successful investment, integrated capabilities, and innovative operating practices, and I am excited to join the AvalonBay team as the Company continues its long history of leadership in the industry,” said Ms. Thomas, who is expected to formally join AvalonBay on July 8, 2024, and be based out of the Company’s Arlington, VA headquarters.
“Our executive team looks forward to working with Pamela and benefiting from her extensive experience and abilities as we continue to implement our strategies for future value creation and growth,” said Mr. Schall.
As of March 31, 2024, AvalonBay Communities, Inc. (NYSE: AVB) owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,673 apartment homes in 12 states and the District of Columbia, of which 17 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company’s expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.
