MID-AMERICA APARTMENT COMMUNITIES INC
Sector: Indices SP 600
Latest Quote @ Tue Jun 6 22:13:24 (15 min delayed)
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Mid-America Apartment Communities, Inc., a real estate investment trust (REIT), engages in the acquisition, ownership, and operation of apartment communities primarily in the southeastern United States, and Texas. As of June 30, 2005, the company owned or had an ownership interest in 130 multifamily apartment communities. The company has elected to be treated as a REIT and would not be subject to federal income tax, if it distributes at least 90% of its taxable income to its shareholders. The company was formed in 1977 and is headquartered in Memphis, Tennessee. The company acquired the Waterford Forest apartments, a 384-unit community located in the Research Triangle area of North Carolina, and the Boulder Ridge apartments, a 478-unit community located in the North Dallas/Fort Worth metropolitan area of Texas, in July 2005.