XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Mortgage Notes Payable, Unsecured Notes and Credit Facility - Narrative (Details) - USD ($) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Nov. 30, 2021 | Sep. 30, 2021 | Jan. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Repayment of unsecured debt |  |  |  | $ 462,147,000 | $ 958,680,000 | $ 0
Gain (Loss) on Extinguishment of Debt |  |  |  | (17,787,000) | (9,333,000) | $ (602,000)
Write off of Deferred Debt Issuance Cost |  | $ 5,743,000 |  |  |  |
Variable rate unsecured credit facility |  |  |  | 0 | 0 |
Net carrying value of apartment communities and improved land parcels securing debt |  |  |  | $ 1,256,155,000 |  |
Percentage of principle amount at which the entity may redeem some or all of the notes |  |  |  | 100.00% |  |
Notes Payable Maturities 2021 |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Stated interest rate (as a percent) |  |  | 5.37% |  |  |
Notes payable maturing in 2022 |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Gain (Loss) on Extinguishment of Debt |  | $ 17,890,000 |  |  |  |
Notes Payable Maturities 2036 |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Stated interest rate (as a percent) | 3.79% |  |  |  |  |
Variable rate unsecured credit facility |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Available borrowing capacity |  |  |  | $ 1,750,000,000 |  |
Line of credit facility, commitment fee percentage |  |  |  | 0.125% |  |
Annual facility fee |  |  |  | $ 2,188,000 |  |
Variable rate unsecured credit facility |  |  |  | 0 | 0 |
Outstanding balance of letters of credit |  |  |  | $ 11,969,000 | 2,900,000 |
Variable rate unsecured credit facility | LIBOR |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  |  | 0.775% |  |
Debt instrument, interest rate, effective percentage |  |  |  | 0.88% |  |
Other Letter of Credit |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Outstanding balance of letters of credit |  |  |  | $ 39,581,000 | $ 32,079,000 |
Fixed rate mortgage notes payable |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Weighted average interest rate, debt (as a percent) |  |  |  | 3.70% | 3.80% |
Variable rate mortgage notes payable, unsecured term loan and Credit Facility |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Weighted average interest rate, debt (as a percent) |  |  |  | 1.70% | 1.70% |
Secured notes | Notes Payable Maturities 2021 | Avalon San Bruno II |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Repayments of secured debt |  |  | $ 27,795,000 |  |  |
Secured notes | Notes Payable Maturities 2036 | Avalon Westbury |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Repayments of secured debt | $ 73,060,000 |  |  |  |  |
Unsecured notes | Minimum |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  |  | 0.20% |  |
Unsecured notes | Maximum |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  |  | 0.45% |  |
Unsecured notes | Notes payable maturing in 2022 |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Stated interest rate (as a percent) |  | 2.95% |  |  |  |
Repayment of unsecured debt |  | $ 450,000,000 |  |  |  |
Prepayment Penalty |  | $ 12,147,000 |  |  |  |
Unsecured notes | Unsecured Notes 2.05 Percent |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Stated interest rate (as a percent) |  | 2.05% |  |  |  |
Unsecured notes | Unsecured Notes 1.90 Percent |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Stated interest rate (as a percent) | 1.90% |  |  |  |  |
Unsecured Notes 2.05 Percent |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Face amount, debt instrument |  | $ 700,000,000 |  |  |  |
Proceeds from Issuance of Debt |  | $ 694,617,000 |  |  |  |
Unsecured Notes 1.90 Percent |  |  |  |  |  |
Mortgage Notes Payable, Unsecured Notes and Credit Facility |  |  |  |  |  |
Face amount, debt instrument | $ 400,000,000 |  |  |  |  |
Proceeds from Issuance of Debt | $ 396,976,000 |  |  |  |  |

X
- Definition Prepayment Penalty + References No definition available. + Details
Name: | avb_PrepaymentPenalty
Namespace Prefix: | avb_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph e -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123467658&loc=d3e12355-112629 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467658&loc=d3e12317-112629 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585 + Details
Name: | us-gaap_GainsLossesOnExtinguishmentOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. + References No definition available. + Details
Name: | us-gaap_LettersOfCreditOutstandingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of the fee for available but unused credit capacity under the credit facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeeAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The carrying amount, as of the date of the latest financial statement presented, of real estate owned but transferred to serve as collateral for the payment of the related debt obligation, primarily a secured borrowing or repurchase agreement, and for which the transferee is not permitted to sell or re-pledge them to an unrelated party. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (b)(1)(i) -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
Name: | us-gaap_PledgedAssetsNotSeparatelyReportedRealEstate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3291-108585 + Details
Name: | us-gaap_RepaymentsOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash outflow to repay long-term debt that is not secured by collateral. Excludes repayments of tax exempt unsecured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3291-108585 + Details
Name: | us-gaap_RepaymentsOfUnsecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
Name: | us-gaap_WriteOffOfDeferredDebtIssuanceCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_NotesPayableMaturities2021Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_NotesPayableMaturities2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_NotesPayableMaturities2036Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_OtherLetterofCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_FixedRateMortgageNotesPayableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_VariableRateMortgageNotesPayableUnsecuredTermLoanAndCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=avb_AvalonSanBrunoIIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=avb_AvalonWestburyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_UnsecuredNotes205PercentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=avb_UnsecuredNotes1900PercentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=avb_UnsecuredNotes205PercentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=avb_UnsecuredNotes1900PercentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |