Mid-America Apartment Communities, Inc.
), 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
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
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,
) holds a Zacks #3 Rank, which implies a short-term Hold
MID-AMER APT CM (MAA): Free Stock Analysis
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