 | |
| Company type | Public company |
|---|---|
| Traded as | NYSE: MAA S&P 500 Component |
| Industry | Real estate investment trust |
| Founded | 1977; 47 years ago (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 |  $1.677 billion (2020) |
| Net income |  $254 million (2020) |
| Total assets | $11.194 billion (2020) |
| Total equity | $6.078 billion (2020) |
| Number of employees | 2,530 (2020) |
| Website | www |
| Footnotes / references | |
Mid-America Apartment Communities, Inc. (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.
As of December 31, 2020, the company owned 300 apartment communities containing 100,490 apartment units. It is the largest owner of apartments in the United States and the 11th largest apartment property manager in the United States.
History
The company was founded in 1977 by George E. Cates.
In 1993, the company was organized as a real estate investment trust.
In February 1994, the company acquired The Cates Company from George E. Cates and became a public company via an initial public offering.
In March 2009, founder George E. Cates retired.
In October 2013, the company acquired Colonial Properties.
In December 2016, the company acquired Post Properties and was added to the S&P 500 Index.
In 2017, the company was ranked 142nd on the "Growth Champions" list published by Forbes.
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.
In January 2023, the company was named a defendant in a class-action lawsuit over its use of RealPage software to control rent pricing.
References
- ^ "Mid-America Apartment Communities, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.
- ^ "MAA founder George Cates retires from board". American City Business Journals. March 16, 2009.
- "MAA and Colonial Properties Trust complete $8.3 billion merger" (Press release). PR Newswire. October 1, 2013.
- "MAA and Post complete merger" (Press release). PR Newswire. December 1, 2016.
- "Mid-America Apartment Communities, AmSurg to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600" (Press release). PR Newswire. November 29, 2016.
- "#142 Mid-america Apartment Communities". Forbes.
- "UNITED STATES V. MID-AMERICA APARTMENT COMMUNITIES, INC. AND MID-AMERICA APARTMENTS, L.P., FORMERLY POST APARTMENTS (D.D.C.)" (Press release). United States Department of Justice. November 21, 2018.
- "Lawsuit: Tennessee company, others formed cartel to keep American rent prices high". News Channel 9. April 25, 2023.
External links
- Official website
- Business data for Mid-America Apartment Communities: