-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ADCN22Vw7LtvwivYw/pVC2vcKG5JpJI/w3tKeL7SfZWjHVsWHJYtw3fmL12ZfDle YBCaq20pkk5luzab0+w0ZA== 0000912595-03-000016.txt : 20030207 0000912595-03-000016.hdr.sgml : 20030207 20030207134810 ACCESSION NUMBER: 0000912595-03-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030207 ITEM INFORMATION: Other events FILED AS OF DATE: 20030207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MID AMERICA APARTMENT COMMUNITIES INC CENTRAL INDEX KEY: 0000912595 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 621543819 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12762 FILM NUMBER: 03544207 BUSINESS ADDRESS: STREET 1: 6584 POPLAR AVE STREET 2: STE 340 CITY: MEMPHIS STATE: TN ZIP: 38138 BUSINESS PHONE: 9016826600 MAIL ADDRESS: STREET 1: 6584 POPLAR AVE STREET 2: SUITE 340 CITY: MEMPHIS STATE: TN ZIP: 38138 8-K 1 jv020703.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 February 7, 2003 Date of Report (Date of earliest event reported) MID-AMERICA APARTMENT COMMUNITIES, INC. (Exact Name of Registrant as Specified in Charter) TENNESSEE 1-12762 62-1543819 (State of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number) 6584 POPLAR AVENUE, SUITE 300 MEMPHIS, TENNEESSEE 38138 (Address of principal executive offices) (901) 682-6600 (Registrant's telephone number, including area code) (Former name or address, if changed since last report) ITEM 5. Other Event Mid America Apartment Communities, Inc. (MAA) MEMPHIS, TN, February 7, 2003 - Mid-America Apartment Communities, Inc. (NYSE:MAA) announced the acquisition of Green Oaks, a 300-unit apartment community located in Grand Prairie, a suburb of Dallas, TX, for $18.9 million. The property is expected to become the third investment by its joint venture with Crow Holdings, in which Mid-America owns a 1/3 interest. The Company plans to contribute the property to the joint venture once a financing commitment has been received under the provisions of the joint venture's Freddie Mac credit facility. Mid-America's funding was provided by its bank credit facility. The property is located in the North Arlington submarket of the Dallas-Fort Worth area, conveniently located to employment centers and retail facilities as well as to downtown Dallas and Forth Worth. Simon Wadsworth, Executive VP and CFO of Mid-America said, "We are pleased with the addition of this high quality property to our portfolio at a discount of its replacement cost. It will be a fine addition to our partnership with Crow Holdings. This part of the Dallas market has maintained stronger occupancy than many other areas and the property addition will be immediately accretive to earnings. While the Dallas apartment market is currently operating at levels well below historical norms due to the slower economic cycle, we remain comfortable with the long term growth prospects and strength of this market. We continue to seek attractive investments through this partnership in stable growth markets throughout the southeastern US and Texas." Mid-America Apartment Communities is a NYSE traded multifamily REIT specializing in the acquisition, redevelopment and management of apartment properties throughout the southeast and south central US with 34,507 units under ownership and management. Crow Holdings is a group of international, diversified investment holding companies that owns and directs the investments of the Trammell Crow family and manages investments on behalf of the Trammell Crow family and its investment partners. For further details, please refer to our website at www.maac.net or contact Simon R. C. Wadsworth at 901/682-6668, ext. 105. 6584 Poplar Ave., Suite 300, Memphis, TN 38138. Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such statements include, but are not limited to, statements made about anticipated market conditions, anticipated acquisitions, redevelopment opportunities, and property financing. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including a downturn in general economic conditions or the capital markets, competitive factors including overbuilding or other supply/demand imbalances in some or all of our markets, changes in interest rates and other items that are difficult to control, as well as the other general risks inherent in the apartment and real estate businesses. Reference is hereby made to the filings of Mid-America Apartment Communities, Inc., with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual report on Form 10-K, particularly including the risk factors contained in the latter filing. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MID-AMERICA APARTMENT COMMUNITIES, INC. Date: February 7, 2003 /s/Simon R.C. Wadsworth Simon R.C. Wadsworth Executive Vice Presidentand Chief Financial Officer (Principal Financial and Accounting Officer) -----END PRIVACY-ENHANCED MESSAGE-----