Mid-America Apartment Communities

Mid-America Apartment Communities, Inc.
Public company
Traded as NYSE: MAA
S&P 500 Component
Industry Real estate investment trust
Founded 1977 (1977)
Founder George E. Cates
Headquarters Memphis, Tennessee
Key people
 H. Eric Bolton, Jr., Chairman, CEO & President
Albert M. Campbell, III, CFO
Products Apartments
Revenue Increase $1.528 billion (2017)
Decrease $0.340 billion (2017)
Total assets Decrease $11.491 billion (2017)
Total equity Decrease $6.350 billion (2017)
Number of employees
 2,464 (2017)
Website www.maac.com
Footnotes / references
[1]

Mid-America Apartment Communities is a publicly-traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.[1]

As of December 31, 2017, the company owned 302 apartment communities containing 99,523 apartment units and 4 office buildings containing 231,821 square feet.[1] The company is the largest publicly-traded apartment real estate trust in the United States.[2]

History

The company was founded in 1977 by George E. Cates.[3]

In 1993, the company was organized as a real estate investment trust.[1]

In February 1994, the company acquired The Cates Company and became a public company via an initial public offering.[3]

In January 2004, the company acquired properties in Dallas, Texas and Nashville, Tennessee.[4]

In 2011, the company acquired 256-unit apartment community in Savannah, Georgia[5] and a 300-unit apartment community in Richmond, Virginia.[6]

In October 2013, the company acquired Colonial Properties.[7]

In 2016, the company was added to the S&P 500 Index.[8]

In 2016, the company acquired Alexan Heights, a 352-unit apartment complex in Houston Heights.[2]

In December 2016, the company acquired Post Properties.[9][10]

References

  1. 1 2 3 4 "Mid-America Apartment Communities, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 2 Takahashi, Paul (September 27, 2016). "Exclusive: Nation's largest REIT scoops up luxe Heights apartment complex". American City Business Journals.
  3. 1 2 "MAA founder George Cates retires from board". American City Business Journals. March 16, 2009.
  4. ↑ "Mid-America Announces Property Acquisitions" (Press release). PRNewswire. January 26, 2004.
  5. ↑ "MAA buys Avala at Savannah Quarters". American City Business Journals. June 15, 2011.
  6. ↑ "MAA purchases Virginia apartments". American City Business Journals. June 2, 2011.
  7. ↑ "MAA and Colonial Properties Trust complete $8.3 billion merger" (Press release). PRNewswire. October 1, 2013.
  8. ↑ "Mid-America Apartment Communities, AmSurg to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600" (Press release). PRNewswire. November 29, 2016.
  9. ↑ "MAA and Post complete merger" (Press release). PRNewswire. December 1, 2016.
  10. ↑ "MAA and Post Properties to merge in $17 billion combination" (Press release). PRNewswire. August 15, 2016.
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