Ron Havner, chairman and CEO of self-storage REIT Public Storage, has been named to the board of directors of apartment REIT AvalonBay Communities effective Sept. 16.
“Ron has served as CEO of one of the most admired equity REITs, leading it for over a decade of strong revenue growth and value creation,” Tim Naughton, chairman and CEO of AvalonBay, said in a news release. “We look forward to benefiting from his business and investment expertise.”
Havner became vice chairman and CEO of Public Storage in 2002. He was named chairman in 2011. He started his career at Glendale, CA-based Public Storage in 1986.
Havner also is chairman of NAREIT, the National Association of Real Estate Investment Trusts.
With more than 2,200 U.S. facilities, publicly traded Public Storage is the country’s largest self-storage operator.
AvalonBay, based in Arlington, VA, owns outright or has a stake in 275 apartment complexes in 12 states and Washington, DC.