), 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.
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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