A NOTE FROM OUR
PRESIDENT & CEO
I am #GablesProud! In my 27 years here, I could not be more proud of the entire Gables team than I am today. Let me share with you why. 2014 was one of change and uncertainty as the Gables organization went through a planned recapitalization. Not only did Gables associates engage in their respective roles throughout the event, but they raised the bar in executing our mission every day with unparalleled pride and professionalism. â€œTaking Careâ€? is an all-encompassing spirit and a pervasive culture that is incorporated into everything we do as an organization. Good corporate citizenship is one of the measures Gables undertakes and holds as a cornerstone of living our mission. It is not something that can be accomplished in one day and the box is checked for the year. Good corporate citizenship is an enduring objective that overlays all of our decisions and undertakings. It guides our interactions with our associates, retail tenants, investors and vendor partner relationships. It influences our development and operational endeavors. It directs our involvement with our local communities. It defines our organization. Gables associates steadfastly focused on these core beliefs in 2014. As a result, exemplary financial results were achieved for our investors and in addition, the company and many associates were recognized on numerous occasions throughout the multi-family industry for innovation and performance. Over the course of the year the team completed $360M of development while actively working on $600M of new development and an additional $16M of value-add renovation activity, all of which was undertaken with sustainability certification guidelines and goals generating returns above expectations. Through the thoughtful application of the actions necessary to achieve these measures, our team has been able to deliver award-winning, industry leading ideas and initiatives. As important as it is to Gables to be a leader in the industry, being an active corporate contributor in the neighborhoods in which we do business is equally important. Gables communities are a part of their local neighborhoods with many associates committing their time to make a difference. They are passionate about improving their surroundings and assisting the local community through their time and donations. In addition, many Gables associates participate in the local chapters of industry related organizations as well as leadership roles at the state and national level. Providing leadership in the community and in the multi-family industry is our associatesâ€™ way of personally giving back to make their world a better place. As you read through the balance of this report you will see some of the specific details related to Gables sustainability efforts, community service endeavors, associate engagement and corporate governance measures. These are the cornerstones of Gables corporate citizenship efforts. I know you will understand why I say, I am #GablesProud.
Susan M. Ansel President & Chief Executive Officer