"It is not our practice to comment on rumors, but the level of speculation reached a point that we felt that it was appropriate to clarify our position," says R. Scot Sellers, chairman and chief executive officer. "We are actively marketing several non-core assets that would allow us to pay the special dividend we have discussed recently, and have made important progress in this regard. We look forward to sharing more information on our progress on this front during the next several weeks."
Archstone-Smith has a current total market capitalization of $11.5 billion, making it one of the largest publicly traded companies in Colorado. Archstone-Smith owns and operates a portfolio of high-rise and garden apartment communities concentrated in many of the most desirable neighborhoods in the greater Washington, DC metropolitan area, Southern California, the San Francisco Bay area, Chicago, Boston, Southeast Florida, Seattle and the greater New York City metropolitan area. In Denver, for example, it owns properties in the Central Platte Valley at the edge of LoDo, home to some of the most expensive real estate in the area.
Archstone-Smith owns or has an ownership position in 240 communities, representing 83,355 units, including communities under construction.
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