(MAA) Mid-America Apartment Communities Acquires Orlando Property

Mid-America Apartment Communities, Inc. (MAA), an apartment-only real estate investment trust (REIT), recently completed the acquisition of Retreat at Lake Nona. This is a 394-unit multifamily apartment community in Orlando, Florida. The property was acquired from an unnamed seller for an undisclosed amount.

The Retreat at Lake Nona features apartments with an average size of 1,069 square feet. The upscale community offers amenities such as a resort-style pool, tennis and basketball courts, and outdoor grills.

This is a valuable acquisition for MAA owing to its close proximity to the Medical City development, an emerging 600-acre science and technology park. The strategic location ensures that residents of the upscale community can gain easy access to two major commuter routes, both of which connect to several other regional employment and retail centers.

The acquisition is part of the company’s long-term strategy to strengthen its presence in Central Florida .This deal is expected to be accretive to the company’s earnings .

MAA is a leading performer in the apartment real estate industry with a portfolio of multi-family housing that stretches across the Sunbelt region of the United States. It currently has ownership interest in 48,828 apartment units. MAA’s  portfolio  is  broadly divided in two tiers — larger primary markets and lower population secondary markets .  The strategy helps to mitigate risk and provide growth opportunities and steady returns to its investors.

MAA currently retains a Zacks #2 Rank, which translates into a short-term Buy rating. We  have  a long-term Neutral recommendation on the stock. One of its competitors, UDR, Inc. (UDR) holds a Zacks #3 Rank, which implies a short-term Hold rating.

Read the full analyst report on “MAA”
Read the full analyst report on “UDR”
Zacks Investment Research

About vitalstocks

This is a sample profile field. Vitalstocks is the operating company for Stockbloghub. This will place the picture of the author or company in the profile. Here is another extra line of information.


Powered by Facebook Comments

Similar Posts: | | | | Financial | REIT - Residential

RSS feeds: MAA | Mid-America Apartment Communities Inc | UDR | UDR Inc. | Financial | REIT - Residential |

Other Posts by | RSS Feed for this author