| Mid-America Apartment Communities, Inc. | |
| Type: | Public company |
| Traded As: | S&P 500 Component |
| Founder: | George E. Cates |
| Hq Location: | Memphis, Tennessee |
| Industry: | Real estate investment trust |
| 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) |
| Assets: | $11.194 billion (2020) |
| Equity: | $6.078 billion (2020) |
| Num Employees: | 2,530 (2020) |
| Footnotes: | [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]
As of December 31, 2020, the company owned 300 apartment communities containing 100,490 apartment units.[1] It is the largest owner of apartments in the United States and the 11th largest apartment property manager in the United States.[2]
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 from George E. Cates and became a public company via an initial public offering.[3]
In March 2009, founder George E. Cates retired.[3]
In October 2013, the company acquired Colonial Properties.[4]
In December 2016, the company acquired Post Properties[5] and was added to the S&P 500 Index.[6]
In 2017, the company was ranked 142nd on the "Growth Champions" list published by Forbes.[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. Web site: Lawsuit: Tennessee company, others formed cartel to keep American rent prices high . News Channel 9 . April 25, 2023.