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Mid-America Apartment Communities
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] HistoryThe 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] References
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