Bay Apartment Communities says winter storms have not damaged portfolio communities.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 14, 1995--Bay Apartment Communities (NYSE NYSE See: New York Stock Exchange : BYA) said Tuesday it has not experienced any damage at its apartment home communities as a result of the unusually heavy storms in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern this winter. The company owns and manages 23 apartment communities containing more than 5,100 apartment homes in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Sacramento and Fresno. "We have not experienced any flood-related damage at our communities and, because of our construction design and ongoing preventative maintenance programs at all of our properties, we have not suffered any rain related problems," said Gilbert M. Meyer, chairman and president of the company. Meyer said the heavy rains, however, have delayed by almost a month the completion of the company's two new communities in the Santa Clara Valley
The Santa Clara Valley is a valley just south of the San Francisco Bay in Northern California in the United States. - Carriage Square, a 324-apartment home community in San Jose and Canyon Creek Canyon Creek can mean the following:
"We always build in delay time for weather into our construction schedule. This year, however, we have had considerably more rain than usual," he added. "In the case of Carriage Square, we have already occupied almost 100 apartments and expect the community to reach stabilized occupancy in the fourth quarter of this year. We expect initial occupancy of Canyon Creek to begin next month," Meyer said. Bay Apartment Communities is a fully integrated, multifamily real estate investment trust focused on the acquisition, development, redevelopment and management of high-quality apartments in Northern California. The company completed its initial public offering of almost 10.9 million shares of common stock at $20 per share on March 17, 1994. CONTACT: Bay Apartment Communities Gilbert M. Meyer, 408/983-1500 |
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