Mid-America Apartment Communities

Mid-America Apartment Communities (MAA) 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]

Mid-America Apartment Communities, Inc.
TypePublic company
NYSE: MAA
S&P 500 Component
IndustryReal estate investment trust
Founded1977 (1977)
FounderGeorge E. Cates
HeadquartersMemphis, Tennessee
Key people
H. Eric Bolton, Jr., Chairman, CEO & President
Albert M. Campbell, III, CFO
ProductsApartments
Revenue $1.641 billion (2019)
$0.366 billion (2019)
Total assets $11.230 billion (2019)
Total equity $6.289 billion (2019)
Number of employees
2,476 (2019)
Websitewww.maac.com
Footnotes / references
[1]

As of December 31, 2019, the company owned 300 apartment communities containing 100,031 apartment units and 4 office buildings containing 260,000 square feet.[1] It is the largest owner of apartments in the United States[2] and the 7th largest apartment property manager in the United States.[3]

History

The company was founded in 1977 by George E. Cates.[4]

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

In February 1994, the company acquired The Cates Company from George E. Cates and became a public company via an initial public offering.[4]

In March 2009, founder George E. Cates retired.[4]

In October 2013, the company acquired Colonial Properties.[5]

In December 2016, the company acquired Post Properties[6] and was added to the S&P 500 Index.[7]

In 2017, the company was ranked 142nd on the "Growth Champions" list published by Forbes.[8]

In November 2018, the company paid $11.3 million to settle a complaint that Post Properties violated the design and construction requirements under the Fair Housing Act and the Americans with Disabilities Act at 50 properties.[9]

References

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