Mid-America Apartment Communities

Last updated
Mid-America Apartment Communities, Inc.
Company type Public
Industry Real estate investment trust
Founded1977;49 years ago (1977)
FounderGeorge E. Cates
Headquarters Germantown, Tennessee, U.S.
Key people
Products Apartments
RevenueIncrease2.svg $2.191 billion (2024)
Decrease2.svg $524 million (2024)
Total assets Increase2.svg $11.81 billion (2024)
Total equity Decrease2.svg $6.098 billion (2024)
Number of employees
2,532 (2024)
Website maac.com
Footnotes /references
[1]

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. [1]

Contents

As of December 31, 2024, the company owned 301 apartment communities containing 102,348 apartment units. [1] It is the second largest owner of apartments in the United States and the 12th largest apartment property manager in the United States. [2]

The company is ranked 1785th on the Forbes Global 2000. [3]

History

The company was founded as The Cates Co. in 1977 by George E. Cates. [4] [5]

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. [6]

In December 2016, the company acquired Post Properties. [7]

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. [8]

In January 2023, the company was named a defendant in a class-action lawsuit over its use of RealPage software to control rent pricing. [9]

References

  1. 1 2 3 4 "Mid-America Apartment Communities, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 7, 2025.
  2. ↑ "NMHC 50 Largest Apartment Owners". National Multifamily Housing Council.
  3. ↑ "Forbes: Mid-america Apartment Communities". Forbes.
  4. 1 2 3 "MAA founder George Cates retires from board" . American City Business Journals . March 16, 2009.
  5. ↑ "MAA's Three Decade Journey to Becoming a Powerhouse Apartment Owner". National Association of Real Estate Investment Trusts . April 25, 2025.
  6. ↑ "MAA and Colonial Properties Trust complete $8.3 billion merger" (Press release). PR Newswire. October 1, 2013.
  7. ↑ "MAA and Post complete merger" (Press release). PR Newswire. December 1, 2016.
  8. ↑ "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.
  9. ↑ "Lawsuit: Tennessee company, others formed cartel to keep American rent prices high". News Channel 9. April 25, 2023.
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