Company Profile

ASSOCIATED ESTATES REALTY CORP.
5025 SWETLAND COURT
RICHMOND HEIGHTS, OH 44143-1467
(216) 261 - 5000

Min. 20 minutes delayed

COMPANY PROFILE

ASSOCIATED ESTATES REALTY CORPORATION (AERC) is a self-administered and self-managed equity real estate investment trust. AERC is a fully integrated investment company engaged in property, acquisition, advisory and development management, disposition, operation and ownership activities.

AERC owns substantially all of the economic interest in four corporations which provide management and other services for the Company and third parties. The Company currently owns properties and/or operates properties in 13 states across the United States.

On June 30, 1998, MIG Realty Advisors, Inc. (MIGRA) merged with AERC. AERC acquired MIGRA's property management and advisory management businesses with several institutional clients and the right to receive certain property and asset management fees; acquisition, disposition and incentive fees; loan origination and consultation fees; and mortgage servicing fees.

The Company has four reportable segments:

1. Market Rate multifamily properties

The Market Rate properties are same store conventional multifamily residential properties and properties acquired or disposed of within one year.

2. Affordable Housing multifamily properties

The Affordable Housing properties are multifamily properties for which the rents are subsidized and certain aspects of the operations are regulated by HUD.

3. Management and Service Operations

The Management and Service Operations provide management and advisory services to the Market Rate and Affordable Housing properties which are owned by the Company, as well as to clients and properties that are not owned, but are managed by the Company.

4. Unallocated Corporate Overhead

The Unallocated Corporate Overhead segment was established in 1999 to better capture costs not specifically allocated to an individual segment and to isolate these costs from the third party Management and Service Operations.

The Company’s executive offices are located at 5025 Swetland Court, Richmond Heights, Ohio. The Common Stock is traded on the New York Stock Exchange under the symbol "AEC".