MAA Announces Apartment Acquisition in Jacksonville, FL

MEMPHIS, TN, /PRNewswire/ -- MAA(NYSE: MAA) announced today that it has completed the acquisition of Tattersall at Tapestry Park (top left photo), a 279-unit upscale apartment community located in the highly desirable Southeast sub-market of Jacksonville, Florida.

The price was not disclosed.

The acquisition was funded by common stock issuances through MAA's at-the-market program and borrowings under our current credit facilities.

The community is located between the beaches and downtown Jacksonville and offers close proximity to a number of major employers in the area including the regional corporate headquarters of Fidelity National Financial and CSX. The area is also home to two of Jacksonville's top employers: Blue Cross & Blue Shield and Merrill Lynch.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are very pleased to expand our portfolio in the Jacksonville market to include Tattersall at Tapestry Park. Jacksonville is North Florida's employment hub and home to the largest deepwater port in the South. We believe Jacksonville will continue to offer strong leasing fundamentals for the foreseeable future."



Contact: : Investor Relations of MAA, +1-901-682-6600, investor.relations@maac.com


Web Site: http://www.maac.com/