New York, NY – April 25, 2012 – (RealEstateRama) — Shareholders of AvalonBay Communities Inc. (NYSE: AVB) were urged today to vote against the REIT’s questionable executive compensation plan in an open letter sent to investors by 32BJ SEIU, one of the largest property sector unions in the country. In the dispatch sent to shareholders representing nearly 80% of the company, the union criticizes the current executive pay plan for providing an incentive to hire unscrupulous contractors, overlook federal health and safety requirements, and evade industry standards in the operation of AvalonBay buildings.
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