Company type | Public company |
---|---|
NYSE:
MAA S&P 500 Component | |
Industry | Real estate investment trust |
Founded | 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) |
$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 [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. [9]