MAA Announces Acquisition of Apartment Community in Alabama

MAA MAA announced today that it has completed the acquisition of Birchall at Ross Bridge, a 240-unit upscale apartment community located in the highly desirable South sub-market of Hoover, Alabama in the Birmingham metropolitan statistical area. Birchall at Ross Bridge is a condo-quality community that was developed in 2009. The community offers a mix of 1, 2 and 3 bedroom floor plans with an average unit size of 1,182 square feet. The units offer luxury amenities including stainless steel appliances and granite counter tops. The community contains a resort-style pool, secluded trails and various resident centers, and is in walking distance of restaurants, specialty retailers and offices. The acquisition was funded by common stock issuances through MAA's at-the-market program and borrowings under our current credit facilities.