Company Overview

Archstone-Smith Trust was founded in 2001 when Charles E. Smith Residential Realty acquired Archstone Communities Trust. The company focuses on the development, redevelopment, acquisition, and long-term ownership of apartment communities in high-growth markets across the nation. As of June 30, 2006, Archstone-Smith owned or had an ownership position in 267 communities, representing approximately 83,000 units, including units under construction. Its properties are separated into garden-style communities, which operate under the Archstone Communities brand name, and high-rise properties, which operate under the Charles E. Smith name. Other divisions include Ameriton Properties Incorporated, Archstone Management Services, and Smith Corporate Living. Following aggressive efforts to build a national brand—a concept that would be the first of its kind in the apartment industry—Archstone-Smith has implemented service programs and amenities to strengthen customer loyalty. In 2005, the firm bought its first property in Germany and expanded its German holdings in 2006.