), an apartment-only real estate investment trust (REIT), has
recently completed the acquisition of Haven at Blanco -- a 436-unit
multifamily apartment community in San Antonio, Texas. The property
was acquired from an unnamed seller for an undisclosed amount.
Built in 2010, the Haven at Blanco features apartments with an
average size of 1,063 square feet. The upscale community offers
amenities such as a resort-style pool, garages and other
This is a valuable acquisition for MAA owing to its close proximity
to San Antonio's northwest job corridor, the city's largest
employment sector and the South Texas Medical Center -- home to 45
medical institutions. The strategic location ensures that residents
of the upscale community can gain easy access to major
The acquisition is part of the company's long-term strategy to
strengthen its presence in the San Antonio market. With economic
diversification in this region, the 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 49,264 apartment units. MAA's portfolio is broadly
divided into two tiers -- larger primary markets, and lower
population secondary markets. This helps to mitigate risk and
provide 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
UDR INC (UDR): Free Stock Analysis Report
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