MAA Announces Acquisitions Of High-End Apartment Communities (MAA)

MAA MAA announced today that it has completed the acquisition of two new, high-end Florida apartment communities, The Retreat at Magnolia Parke Apartments in Gainesville and Atlantic Crossing in Jacksonville. The Retreat at Magnolia Parke Apartments is a 204 unit upscale development completed in 2008. The property is located in the highly desirable Magnolia Parke sub-market with close proximity to Oak Mall, Gainesville's largest retail center. Gainesville is North Central Florida's employment hub with employment levels that are higher than the national average supported by extensive research, education and health services based employers. The upscale property boasts luxury amenities including a movie theater, resort style swimming pool, game room and outdoor fireplace. Individual units average 1,010 square feet in size and are complete with crown molding, walk-in closets and washers and dryers.