AV Homes, Inc., formerly Avatar Holdings Inc., is engaged in the business of real estate operations in Florida and Arizona. The Company also engages in other real estate activities, such as the operation of amenities, the sale for third-party development of commercial and industrial land and the operation of a title insurance agency. The Company's residential community development activities include the development of active adult and primary residential communities. Its assets consist primarily of real estate in the states of Florida and Arizona. As of December 31, 2010, it owned more than 17,000 acres and through partnerships in several limited liability companies (LLC's) having a minority ownership interest in an additional 830 acres of developed, partially developed or developable residential, commercial and industrial property. Within Florida and Arizona, it also owns more than 15,000 acres of preserves, wetlands, open space and other areas.