Mid-America Apartment Communities

Mid-America Apartment Communities, Inc.
Company typePublic
IndustryReal estate investment trust
Founded1977 (1977)
FounderGeorge E. Cates
HeadquartersGermantown, Tennessee, U.S.
Key people
ProductsApartments
Revenue $2.191 billion (2024)
$524 million (2024)
Total assets $11.81 billion (2024)
Total equity $6.098 billion (2024)
Number of employees
2,532 (2024)
Websitemaac.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]

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] The lawsuit was settled in January 2026. [10]

References

  1. ^ a b c d "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. ^ a b c "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.
  10. ^ https://www.multifamilydive.com/news/maa-settles-realpage-lawsuit/810899/
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