| Business Summary | | Mid
America
Apartment
Communities,
Inc.
is
a
self-administered
and
self-managed
umbrella
partnership
real
estate
investment
trust.
Between
1994
and
December
31,
2000,
the
Company
increased
the
number
of
properties
of
which
it
is
the
sole
owner
from
22
to
114
properties
with
30,819
apartment
units,
representing
an
increase
of
25,239
apartment
units.
The
Company
is
also
a
participant
in
a
joint
venture
with
Blackstone
Real
Estate
Acquisitions
LLC.
The
joint
venture
owned
10
properties,
representing
2,793
apartment
units,
as
of
December
31,
2000.
The
Company
seeks
to
acquire
and
develop
apartment
communities
appealing
to
middle-
and
upper-income
residents
in
mid-size
cities
in
the
southeastern
United
States
and
Texas.
Approximately
70%
of
the
Company's
apartment
units
are
located
in
Georgia,
Florida,
Tennessee
and
Texas
markets. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | MAA,
a
self-administered
and
self-managed
REIT,
owns,
develops,
acquires
and
operates
multifamily
apartment
communities
in
the
southeastern
U.S.
and
Texas.
As
of
12/99,
MAA
owned
and
operated
129
apartment
communities
in
13
states.
For
the
six
months
ended
6/30/01,
revenues
rose
3%
to
$114.7
million.
Net
income
before
extraordinary
item
applicable
to
Common
fell
82%
to
$1.8
million.
Revenues
reflect
communities
in
development.
Net
income
reflects
a
lower
gain
on
dispositions. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| George Cates, 63 Chairman,
CEO | $533K | H. Eric Bolton, Jr., 44 Pres,
COO, Director | 520K | Simon R. Wadsworth, 54 Exec.
VP, CFO, Director | 363K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|