This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MAA Announces Acquisition

MEMPHIS, Tenn., May 22, 2013 /PRNewswire/ -- MAA (NYSE: MAA) announced today that it has completed the acquisition of Station Square at Cosner's Corner, a 260-unit upscale multifamily apartment community located in Fredericksburg, Virginia.


Station Square at Cosner's Corner was developed in 2012 as a NAHB Research Center 'Green Certified' property.  Its central location provides easy access to the major employment centers of the Fredericksburg  MSA.  The property is located adjacent to the Spotsylvania County Regional Medical Center and the 1.5 million square feet retail shopping area of Cosner's Corner.  Additionally, the property is a very short drive from the new commuter terminal for the Virginia Railway Express providing direct access to Union Square in Washington, D.C. 

The community offers residents a mix of one, two and three bedroom floor plans with 9' ceilings, designer kitchens, granite countertops and an average apartment size of 1,032 square feet.  In addition, residents can enjoy an internet cafe area, state-of-the-art fitness center, private movie screening room, resort-style saline pool and dog park.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are pleased to bolster our presence in the Fredericksburg market area with the addition of this well located, high-end community.  We feel its upscale amenities and  central location to major employment hubs in combination with our proven operating platform provides an appealing choice for the rental market and will generate a terrific long-term investment for MAA."

About MAA

MAA is a self-administered, self-managed apartment-only real estate investment trust (REIT), which currently owns or has ownership interest in 49,873 apartment units focused on delivering full-cycle and superior investment performance throughout the Sunbelt region of the U.S.  For further details, please refer to the MAA website at or contact Investor Relations at  6584 Poplar Ave., Memphis, TN  38138.

Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such statements include, but are not limited to, statements made about anticipated acquisition and economic performance results. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in general economic conditions or the capital markets, competitive factors including overbuilding or other supply/demand imbalances in some or all of our markets, changes in interest rates and other items that are difficult to control, as well as the other general risks inherent in the apartment and real estate businesses. Reference is hereby made to the filings of Mid-America Apartment Communities, Inc., with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual report on Form 10-K, particularly including the risk factors contained in the latter filing.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.69 -0.59%
FB $119.49 1.43%
GOOG $711.11 1.40%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs