Operator

Good morning, ladies and gentlemen, and welcome to the AvalonBay Communities and Equity Residential's Merger of Equals Joint Conference Call. [Operator Instructions]

Your host for today's conference call is Marty McKenna, Senior Vice President of Investor and Public Relations at Equity Residential. You may begin your conference call.

Unknown Executive

Thank you.

Good morning, and thanks for joining us to discuss Equity Residential and AvalonBay's merger deals. Our featured speakers today are Ben Schall, President and CEO of Avalon Bay; and Mark Parrell, President and CEO of Equity Residential.

Both the press release and investor presentation are available on both companies' investor websites. Please be advised that certain matters discussed during this conference call may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to certain economic risks and uncertainties. The company assumes no obligation to update or supplement these statements that become untrue because of subsequent events. Now I will turn the