Management Information
Associated Estates Realty Corporation (NYSE: AEC) specializes in the ownership and management of apartment communities. The Company enjoys a successful track record in the apartment development and management business that spans more than 30 years. Associated Estates is a self-administered and self-managed real estate investment trust, or 'REIT.' Headquartered in Richmond Heights, Ohio, a suburb of Cleveland, the Company currently directly or indirectly owns, manages or is a joint venture partner in 99 apartment communities containing a total of 19,969 units located in 10 states. AEC became a public company in November 1993 and was formed to continue the business of its predecessor, the Associated Estates Group, which was founded in the mid-1960s as a builder, manager and owner of apartment communities in Cleveland. While the Company expanded during the mid to late 1990s into new markets, our portfolio is still predominantly located in the Midwest, primarily in Michigan and Ohio. Our plan over the next several years is to reduce our presence in Midwest markets and continue to diversify our portfolio into higher growth markets.
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