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Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III Real Estate and Accumulated Depreciation


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2021
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
Birchall at Ross Bridge	Birmingham, AL		—		$	2,641	$	28,842		—	$	2,900	$	2,641	$	31,742	$	34,383	$	(11,255	)	$	23,128	2009	2011
Colonial Grand at Riverchase Trails	Birmingham, AL		—			3,762		22,079		—		6,549		3,762		28,628		32,390		(10,925	)		21,465	2010	2013
Colonial Village at Trussville	Birmingham, AL		—			3,403		31,813		—		4,905		3,403		36,718		40,121		(13,131	)		26,990	1996/97	2013
Eagle Ridge	Birmingham, AL		—			852		7,667		—		4,584		852		12,251		13,103		(8,889	)		4,214	1986	1998
Colonial Grand at Traditions	Gulf Shores, AL		—			3,212		25,162		—		5,232		3,212		30,394		33,606		(11,194	)		22,412	2007	2013
Colonial Grand at Edgewater	Huntsville, AL		—			4,944		38,673		—		8,222		4,944		46,895		51,839		(15,206	)		36,633	1990	2013
Paddock Club at Providence	Huntsville, AL		—			1,740		10,152		—		14,867		1,740		25,019		26,759		(16,361	)		10,398	1993	1997
Colonial Grand at Madison	Madison, AL		—			3,602		28,934		—		2,370		3,602		31,304		34,906		(11,654	)		23,252	2000	2013
Cypress Village	Orange Beach, AL		—			1,290		12,238		—		3,010		1,290		15,248		16,538		(5,087	)		11,451	2008	2013
Colonial Grand at Liberty Park	Vestavia Hills, AL		—			3,922		30,977		—		7,624		3,922		38,601		42,523		(14,412	)		28,111	2000	2013
Sky View Ranch	Gilbert, AZ		—			2,668		14,577		—		2,945		2,668		17,522		20,190		(7,739	)		12,451	2007	2009
Colonial Grand at Inverness Commons	Mesa, AZ		—			4,219		26,255		—		4,007		4,219		30,262		34,481		(10,308	)		24,173	2002	2013
Edge at Lyon's Gate	Phoenix, AZ		—			7,901		27,182		—		3,784		7,901		30,966		38,867		(14,177	)		24,690	2007	2008
Residences at Fountainhead	Phoenix, AZ		—	(1)		12,212		56,705		—		2,391		12,212		59,096		71,308		(10,197	)		61,111	2015	2016
Talus Ranch	Phoenix, AZ		—			12,741		47,701		—		5,462		12,741		53,163		65,904		(27,009	)		38,895	2005	2006
Novel Midtown	Phoenix, AZ		—			9,001		—		—		73,926		9,001		73,926		82,927		(2,749	)		80,178	2021	2019
Colonial Grand at OldTown Scottsdale	Scottsdale, AZ		—			7,820		51,627		—		6,679		7,820		58,306		66,126		(20,091	)		46,035	1994/95	2013
Colonial Grand at Scottsdale	Scottsdale, AZ		—			3,612		20,273		—		3,593		3,612		23,866		27,478		(8,319	)		19,159	1999	2013
SkySong	Scottsdale, AZ		—			—		55,748		—		3,239		—		58,987		58,987		(10,575	)		48,412	2014	2015
MAA River North	Denver, CO		—			14,500		28,900		—		40,800		14,500		69,700		84,200		(10,045	)		74,155	2018	2016
MAA Promenade	Denver, CO		—			24,111		81,317		—		22,456		24,111		103,773		127,884		(11,516	)		116,368	2017/19	2018
MAA Tiffany Oaks	Altamonte Springs, FL		—			1,024		9,219		—		5,630		1,024		14,849		15,873		(11,251	)		4,622	1985	1996
Colonial Grand at Lakewood Ranch	Bradenton, FL		—			2,980		40,230		—		6,366		2,980		46,596		49,576		(15,909	)		33,667	1999	2013
Indigo Point	Brandon, FL		—			1,167		10,500		—		4,214		1,167		14,714		15,881		(10,150	)		5,731	1989	2000
Paddock Club Brandon	Brandon, FL		—			2,896		26,111		—		7,342		2,896		33,453		36,349		(23,848	)		12,501	1998	1997
MAA Coral Springs	Coral Springs, FL		—			9,600		40,004		—		14,001		9,600		54,005		63,605		(29,765	)		33,840	1996	2004
Paddock Club Gainesville	Gainesville, FL		—			1,800		15,879		—		5,032		1,800		20,911		22,711		(12,070	)		10,641	1999	1998
The Retreat at Magnolia Parke	Gainesville, FL		—			2,040		16,338		—		1,463		2,040		17,801		19,841		(6,544	)		13,297	2009	2011
MAA Heathrow	Heathrow, FL		—			4,101		35,684		—		5,578		4,101		41,262		45,363		(14,755	)		30,608	1997	2013
220 Riverside	Jacksonville, FL		—			2,381		35,514		—		9,016		2,381		44,530		46,911		(7,251	)		39,660	2015	2012
Atlantic Crossing	Jacksonville, FL		—			4,000		19,495		—		3,062		4,000		22,557		26,557		(8,245	)		18,312	2008	2011
Cooper's Hawk	Jacksonville, FL		—			854		7,500		—		4,040		854		11,540		12,394		(9,039	)		3,355	1987	1995
Hunter's Ridge at Deerwood	Jacksonville, FL		—			1,533		13,835		—		5,994		1,533		19,829		21,362		(14,323	)		7,039	1987	1997
Lakeside	Jacksonville, FL		—			1,430		12,883		—		8,396		1,430		21,279		22,709		(16,314	)		6,395	1985	1996
Lighthouse at Fleming Island	Jacksonville, FL		—			4,047		35,052		—		5,608		4,047		40,660		44,707		(24,091	)		20,616	2003	2003
Paddock Club Mandarin	Jacksonville, FL		—			1,411		14,967		—		3,465		1,411		18,432		19,843		(10,601	)		9,242	1998	1998
St. Augustine	Jacksonville, FL		—			2,857		6,475		—		19,592		2,857		26,067		28,924		(13,451	)		15,473	1987/ 2008	1995
Tattersall at Tapestry Park	Jacksonville, FL		—			6,417		36,069		—		2,637		6,417		38,706		45,123		(13,668	)		31,455	2009	2011
Woodhollow	Jacksonville, FL		—			1,678		15,179		—		9,119		1,678		24,298		25,976		(18,682	)		7,294	1986	1997
MAA Lake Mary	Lake Mary, FL		—	(2)		6,346		41,539		—		25,403		6,346		66,942		73,288		(18,790	)		54,498	2012	2013
MAA Town Park	Lake Mary, FL		—			5,742		56,562		—		7,184		5,742		63,746		69,488		(23,729	)		45,759	2005	2013
MAA Town Park Reserve	Lake Mary, FL		—			3,481		10,311		—		578		3,481		10,889		14,370		(4,137	)		10,233	2004	2013
MAA Heather Glen	Orlando, FL		—			4,662		56,988		—		7,938		4,662		64,926		69,588		(22,662	)		46,926	2000	2013
MAA Randal Lakes	Orlando, FL		—			8,859		50,553		—		49,518		8,859		100,071		108,930		(17,424	)		91,506	2014/17	2013
MAA Baldwin Park	Orlando, FL		—			18,101		144,200		—		4,927		18,101		149,127		167,228		(30,996	)		136,232	2011	2016
MAA Crosswater	Orlando, FL		—			7,046		52,585		—		1,326		7,046		53,911		60,957		(10,177	)		50,780	2013	2016
MAA Parkside	Orlando, FL		—			5,669		49,754		—		8,504		5,669		58,258		63,927		(11,627	)		52,300	1999	2016
MAA Lake Nona	Orlando, FL		—			7,880		41,175		—		7,214		7,880		48,389		56,269		(16,087	)		40,182	2006	2012
Sand Lake	Orlando, FL		—			7,635		—		—		59,684		7,635		59,684		67,319		(1,232	)		66,087	2021	2019
Park Crest at Innisbrook	Palm Harbor, FL		—			6,900		26,613		—		4,514		6,900		31,127		38,027		(13,985	)		24,042	2000	2009
The Club at Panama Beach	Panama City, FL		—			893		14,276		—		5,032		893		19,308		20,201		(11,500	)		8,701	2000	1998
MAA Twin Lakes	Sanford, FL		—			3,091		47,793		—		3,696		3,091		51,489		54,580		(18,097	)		36,483	2005	2013
Paddock Club Tallahassee	Tallahassee, FL		—			1,480		4,805		—		14,431		1,480		19,236		20,716		(14,369	)		6,347	1992	1997
Verandas at Southwood	Tallahassee, FL		—			3,600		25,914		—		2,426		3,600		28,340		31,940		(7,535	)		24,405	2003	2011
Belmere	Tampa, FL		—			852		7,667		—		6,992		852		14,659		15,511		(10,865	)		4,646	1984	1994
Colonial Grand at Hampton Preserve	Tampa, FL		—			6,233		69,535		—		3,172		6,233		72,707		78,940		(23,677	)		55,263	2012	2013
Links at Carrollwood	Tampa, FL		—			927		7,355		—		6,259		927		13,614		14,541		(9,748	)		4,793	1980	1998
Post Bay at Rocky Point	Tampa, FL		—			4,541		28,381		—		2,216		4,541		30,597		35,138		(6,384	)		28,754	1997	2016
Post Harbour Place	Tampa, FL		—			16,296		116,193		—		15,059		16,296		131,252		147,548		(28,051	)		119,497	1997	2016
Post Hyde Park	Tampa, FL		—			16,891		95,259		—		8,741		16,891		104,000		120,891		(22,344	)		98,547	1994	2016
Post Rocky Point	Tampa, FL		—			35,260		153,102		—		16,818		35,260		169,920		205,180		(35,663	)		169,517	1994-1996	2016
Post Soho Square	Tampa, FL		—	(1)		5,190		56,296		—		1,057		5,190		57,353		62,543		(10,705	)		51,838	2012	2016
Village Oaks	Tampa, FL		—			2,891		19,055		—		3,197		2,891		22,252		25,143		(10,018	)		15,125	2005	2008
Colonial Grand at Seven Oaks	Wesley Chapel, FL		—			3,051		42,768		—		3,613		3,051		46,381		49,432		(15,903	)		33,529	2004	2013
MAA Windermere	Windermere, FL		—	(1)		2,711		36,710		—		2,304		2,711		39,014		41,725		(12,647	)		29,078	2009	2013
MAA Briarcliff	Atlanta, GA		—			24,614		114,921		—		6,307		24,614		121,228		145,842		(24,367	)		121,475	1996	2016


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2021
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
MAA Brookhaven	Atlanta, GA		—			29,048		106,463		—		8,765		29,048		115,228		144,276		(25,210	)		119,066	1989-1992	2016
MAA Brookwood	Atlanta, GA		—	(2)		11,168		52,758		—		5,969		11,168		58,727		69,895		(19,754	)		50,141	2008	2012
MAA Buckhead	Atlanta, GA		—			8,633		19,844		—		10,894		8,633		30,738		39,371		(10,595	)		28,776	2002	2012
MAA Centennial Park	Atlanta, GA		—			13,650		10,950		—		62,612		13,650		73,562		87,212		(8,384	)		78,828	2018	2016
MAA Chastain	Atlanta, GA		—			30,223		82,964		—		4,828		30,223		87,792		118,015		(17,439	)		100,576	1990	2016
MAA Dunwoody	Atlanta, GA		—			15,799		48,054		—		4,752		15,799		52,806		68,605		(11,019	)		57,586	1995	2016
MAA Gardens	Atlanta, GA		—			17,907		56,093		—		6,134		17,907		62,227		80,134		(13,499	)		66,635	1996	2016
MAA Glen	Atlanta, GA		—			13,878		51,079		—		6,624		13,878		57,703		71,581		(11,964	)		59,617	1996	2016
MAA Lenox	Atlanta, GA		—			23,876		165,572		—		4,935		23,876		170,507		194,383		(37,951	)		156,432	2006/15	2016
MAA Midtown	Atlanta, GA		—			7,000		44,000		—		41,290		7,000		85,290		92,290		(10,430	)		81,860	2017	2016
MAA Oglethorpe	Atlanta, GA		—			6,856		31,441		—		7,717		6,856		39,158		46,014		(16,429	)		29,585	1994	2008
MAA Peachtree Hills	Atlanta, GA		—			11,974		55,264		—		1,935		11,974		57,199		69,173		(10,976	)		58,197	1992-1994/2009	2016
MAA Piedmont Park	Atlanta, GA		—			11,025		34,277		—		3,074		11,025		37,351		48,376		(7,203	)		41,173	1999	2016
MAA Riverside	Atlanta, GA		—			23,765		89,369		—		10,699		23,765		100,068		123,833		(22,777	)		101,056	1996	2016
MAA Spring	Atlanta, GA		—			18,596		57,819		—		7,090		18,596		64,909		83,505		(14,407	)		69,098	1999	2016
MAA Stratford	Atlanta, GA		—			—		30,051		—		6,116		—		36,167		36,167		(7,829	)		28,338	1999	2016
MAA Berkeley Lake	Duluth, GA		—			1,960		15,707		—		2,932		1,960		18,639		20,599		(7,808	)		12,791	1998	2013
MAA McDaniel Farm	Duluth, GA		—			3,985		32,206		—		6,206		3,985		38,412		42,397		(15,458	)		26,939	1997	2013
MAA Pleasant Hill	Duluth, GA		—			6,753		32,202		—		7,421		6,753		39,623		46,376		(15,106	)		31,270	1996	2013
MAA Prescott	Duluth, GA		—			3,840		24,011		—		6,011		3,840		30,022		33,862		(17,027	)		16,835	2001	2004
MAA River Oaks	Duluth, GA		—			4,349		13,579		—		3,634		4,349		17,213		21,562		(8,423	)		13,139	1992	2013
MAA River Place	Duluth, GA		—			2,059		19,158		—		4,186		2,059		23,344		25,403		(9,134	)		16,269	1994	2013
MAA Mount Vernon	Dunwoody, GA		—			6,861		23,748		—		4,813		6,861		28,561		35,422		(9,983	)		25,439	1997	2013
MAA Lake Lanier	Gainesville, GA		—			6,710		40,994		—		10,502		6,710		51,496		58,206		(29,059	)		29,147	1998/ 2001	2005
MAA Shiloh	Kennesaw, GA		—			4,864		45,893		—		8,224		4,864		54,117		58,981		(19,573	)		39,408	2002	2013
MAA Milstead	LaGrange, GA		—			3,100		29,240		—		3,817		3,100		33,057		36,157		(10,277	)		25,880	1998	2008
MAA Barrett Creek	Marietta, GA		—			5,661		26,186		—		3,866		5,661		30,052		35,713		(12,672	)		23,041	1999	2013
Colonial Grand at Godley Lake	Pooler, GA		—			1,750		30,893		—		2,650		1,750		33,543		35,293		(11,618	)		23,675	2008	2013
Colonial Grand at Godley Station	Pooler, GA		5,262			1,800		35,454		—		5,405		1,800		40,859		42,659		(13,895	)		28,764	2001	2013
Avala at Savannah Quarters	Savannah, GA		—			1,500		24,862		—		3,105		1,500		27,967		29,467		(9,978	)		19,489	2009	2011
Colonial Grand at Hammocks	Savannah, GA		—			2,441		36,863		—		6,993		2,441		43,856		46,297		(15,081	)		31,216	1997	2013
Colonial Village at Huntington	Savannah, GA		—			2,521		8,223		—		2,685		2,521		10,908		13,429		(3,923	)		9,506	1986	2013
Georgetown Grove	Savannah, GA		—			1,288		11,579		—		3,885		1,288		15,464		16,752		(11,415	)		5,337	1997	1998
Oaks at Wilmington Island	Savannah, GA		—			2,864		25,315		—		5,994		2,864		31,309		34,173		(15,886	)		18,287	1999	2006
MAA West Village	Smyrna, GA		—			14,410		73,733		—		10,077		14,410		83,810		98,220		(21,973	)		76,247	2006/12	2014
Ranch at Prairie Trace	Overland Park, KS		—			3,500		40,614		—		2,332		3,500		42,946		46,446		(7,542	)		38,904	2015	2015
MAA Pinnacle	Lexington, KY		—			2,024		31,525		—		7,050		2,024		38,575		40,599		(22,033	)		18,566	2000	1998
MAA Lakepointe	Lexington, KY		—			411		3,699		—		2,819		411		6,518		6,929		(5,132	)		1,797	1986	1994
MAA Mansion	Lexington, KY		—			694		6,242		—		4,163		694		10,405		11,099		(8,110	)		2,989	1989	1994
MAA Village	Lexington, KY		—			900		8,097		—		5,028		900		13,125		14,025		(10,450	)		3,575	1989	1994
MAA Stonemill Village	Louisville, KY		—			1,169		10,518		—		10,463		1,169		20,981		22,150		(16,087	)		6,063	1985	1994
Market Station	Kansas City, MO		—			5,814		46,241		—		3,759		5,814		50,000		55,814		(15,927	)		39,887	2010	2012
The Denton	Kansas City, MO		—			5,520		50,939		—		28,973		5,520		79,912		85,432		(12,651	)		72,781	2013/14/17	2015
Colonial Village at Beaver Creek	Apex, NC		—			7,491		34,863		—		3,305		7,491		38,168		45,659		(12,976	)		32,683	2007	2013
Hermitage at Beechtree	Cary, NC		—			900		8,099		—		5,569		900		13,668		14,568		(9,918	)		4,650	1988	1997
Waterford Forest	Cary, NC		—			4,000		20,250		—		5,038		4,000		25,288		29,288		(13,599	)		15,689	1996	2005
MAA 1225	Charlotte, NC		—			9,612		22,342		—		31,117		9,612		53,459		63,071		(14,515	)		48,556	2010	2010
MAA Ayrsley	Charlotte, NC		—			2,481		52,119		—		16,528		2,481		68,647		71,128		(21,483	)		49,645	2008	2013
MAA Ballantyne	Charlotte, NC		—			16,216		44,817		—		4,701		16,216		49,518		65,734		(10,088	)		55,646	2004	2016
MAA Beverly Crest	Charlotte, NC		—			3,161		24,004		—		4,917		3,161		28,921		32,082		(9,771	)		22,311	1996	2013
MAA Chancellor Park	Charlotte, NC		—			5,311		28,016		—		5,634		5,311		33,650		38,961		(12,088	)		26,873	1999	2013
MAA City Grand	Charlotte, NC		—			1,620		17,499		—		1,480		1,620		18,979		20,599		(6,254	)		14,345	2005	2013
MAA Enclave	Charlotte, NC		—			1,461		18,984		—		2,303		1,461		21,287		22,748		(6,524	)		16,224	2008	2013
MAA Gateway	Charlotte, NC		—			17,528		57,444		—		8,852		17,528		66,296		83,824		(14,178	)		69,646	2000	2016
MAA Legacy Park	Charlotte, NC		—			2,891		28,272		—		4,201		2,891		32,473		35,364		(11,323	)		24,041	2001	2013
MAA Prosperity Creek	Charlotte, NC		—			4,591		27,713		—		2,933		4,591		30,646		35,237		(11,033	)		24,204	2005	2013
MAA Reserve	Charlotte, NC		—			4,628		44,282		—		13,664		4,628		57,946		62,574		(11,480	)		51,094	2013	2013
MAA South Line	Charlotte, NC		—			18,835		58,795		—		4,165		18,835		62,960		81,795		(11,736	)		70,059	2009	2016
MAA South Park	Charlotte, NC		—			20,869		65,517		—		8,175		20,869		73,692		94,561		(15,299	)		79,262	1996	2016
MAA South Tryon	Charlotte, NC		—			2,260		19,489		—		3,080		2,260		22,569		24,829		(8,021	)		16,808	2002	2013
MAA University Lake	Charlotte, NC		—			3,250		31,389		—		5,781		3,250		37,170		40,420		(13,552	)		26,868	1998	2013
MAA Uptown	Charlotte, NC		—			10,888		30,078		—		4,747		10,888		34,825		45,713		(7,135	)		38,578	2000	2016
MAA Cornelius	Cornelius, NC		—			4,571		29,151		—		2,462		4,571		31,613		36,184		(11,602	)		24,582	2009	2013
Colonial Grand at Patterson Place	Durham, NC		—			2,590		27,126		—		4,089		2,590		31,215		33,805		(10,953	)		22,852	1997	2013
Colonial Grand at Research Park	Durham, NC		—			4,201		37,682		—		4,875		4,201		42,557		46,758		(15,043	)		31,715	2002	2013
Colonial Village at Deerfield	Durham, NC		—			3,271		15,609		—		2,419		3,271		18,028		21,299		(7,325	)		13,974	1985	2013
MAA Huntersville	Huntersville, NC		—			4,251		31,948		—		4,422		4,251		36,370		40,621		(12,972	)		27,649	2008	2013
MAA Fifty-One	Matthews, NC		—			3,071		21,830		—		6,692		3,071		28,522		31,593		(11,359	)		20,234	2008	2013
MAA Matthews Commons	Matthews, NC		—			3,690		28,536		—		3,046		3,690		31,582		35,272		(11,179	)		24,093	2008	2013
Reserve at Arringdon	Morrisville, NC		—			6,401		31,134		—		5,177		6,401		36,311		42,712		(12,635	)		30,077	2003	2013
Colonial Grand at Brier Creek	Raleigh, NC		—			7,372		50,202		—		3,883		7,372		54,085		61,457		(18,235	)		43,222	2010	2013
Colonial Grand at Brier Falls	Raleigh, NC		—			6,572		48,910		—		3,548		6,572		52,458		59,030		(17,275	)		41,755	2008	2013
Colonial Grand at Crabtree Valley	Raleigh, NC		—			2,241		18,434		—		3,317		2,241		21,751		23,992		(7,061	)		16,931	1997	2013


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2021
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
Colonial Grand at Trinity Commons	Raleigh, NC		—			5,232		45,138		—		5,865		5,232		51,003		56,235		(18,397	)		37,838	2000/02	2013
Hue	Raleigh, NC		—			3,690		29,910		—		2,794		3,690		32,704		36,394		(9,951	)		26,443	2009	2010
Post Parkside at Wade	Raleigh, NC		—			19,434		98,288		—		28,097		19,434		126,385		145,819		(27,901	)		117,918	2011/17/19	2016
Preserve at Brier Creek	Raleigh, NC		—			5,831		21,980		—		27,126		5,831		49,106		54,937		(22,795	)		32,142	2004	2006
Providence at Brier Creek	Raleigh, NC		—			4,695		29,007		—		2,531		4,695		31,538		36,233		(14,541	)		21,692	2007	2008
Colonial Grand at Desert Vista	North Las Vegas, NV		—			4,091		29,826		—		2,568		4,091		32,394		36,485		(11,576	)		24,909	2009	2013
Colonial Grand at Palm Vista	North Las Vegas, NV		—			4,909		25,643		—		5,136		4,909		30,779		35,688		(11,481	)		24,207	2007	2013
Tanglewood	Anderson, SC		—			427		3,853		—		2,786		427		6,639		7,066		(5,588	)		1,478	1980	1994
1201 Midtown	Charleston, SC		—			18,679		63,759		—		17,624		18,679		81,383		100,062		(11,364	)		88,698	2015/18	2016
Colonial Grand at Cypress Cove	Charleston, SC		—			3,610		28,645		—		4,284		3,610		32,929		36,539		(11,450	)		25,089	2001	2013
Colonial Village at Hampton Pointe	Charleston, SC		—			3,971		22,790		—		7,977		3,971		30,767		34,738		(10,815	)		23,923	1986	2013
Colonial Village at Westchase	Charleston, SC		—			4,571		20,091		—		5,481		4,571		25,572		30,143		(10,068	)		20,075	1985	2013
Quarterdeck at James Island	Charleston, SC		—			920		24,097		—		7,190		920		31,287		32,207		(11,001	)		21,206	1987	2013
River's Walk	Charleston, SC		—			8,831		39,430		—		2,774		8,831		42,204		51,035		(8,085	)		42,950	2013/16	2013
Paddock Club Columbia	Columbia, SC		—			1,840		16,560		—		5,976		1,840		22,536		24,376		(16,400	)		7,976	1991	1997
The Fairways	Columbia, SC		—			910		8,207		—		3,327		910		11,534		12,444		(9,348	)		3,096	1992	1994
Colonial Village at Windsor Place	Goose Creek, SC		—			1,321		14,163		—		4,576		1,321		18,739		20,060		(7,321	)		12,739	1985	2013
Highland Ridge	Greenville, SC		—			482		4,337		—		2,982		482		7,319		7,801		(5,304	)		2,497	1984	1995
Howell Commons	Greenville, SC		—			1,304		11,740		—		4,761		1,304		16,501		17,805		(12,418	)		5,387	1987	1997
Innovation Apartment Homes	Greenville, SC		—			4,437		52,026		—		2,729		4,437		54,755		59,192		(10,086	)		49,106	2015	2016
Paddock Club Greenville	Greenville, SC		—			1,200		10,800		—		3,434		1,200		14,234		15,434		(10,259	)		5,175	1996	1997
Park Haywood	Greenville, SC		—			360		2,925		—		5,008		360		7,933		8,293		(6,140	)		2,153	1983	1993
Spring Creek	Greenville, SC		—			583		5,374		—		3,093		583		8,467		9,050		(6,453	)		2,597	1985	1995
The Greene	Greenville, SC		—			5,427		66,546		—		1,109		5,427		67,655		73,082		(4,049	)		69,033	2019	2019
Runaway Bay	Mt. Pleasant, SC		—			1,096		7,269		—		6,858		1,096		14,127		15,223		(10,982	)		4,241	1988	1995
Colonial Grand at Commerce Park	North Charleston, SC		—			2,780		33,966		—		5,130		2,780		39,096		41,876		(12,994	)		28,882	2008	2013
535 Brookwood	Simpsonville, SC		—			1,216		18,666		—		2,424		1,216		21,090		22,306		(8,427	)		13,879	2008	2010
Park Place	Spartanburg, SC		—			723		6,504		—		2,678		723		9,182		9,905		(7,044	)		2,861	1987	1997
Colonial Village at Waters Edge	Summerville, SC		—			2,103		9,187		—		4,778		2,103		13,965		16,068		(6,435	)		9,633	1985	2013
Farmington Village	Summerville, SC		—			2,800		26,295		—		3,472		2,800		29,767		32,567		(14,389	)		18,178	2007	2007
Hamilton Pointe	Chattanooga, TN		—			1,131		10,632		—		7,406		1,131		18,038		19,169		(9,287	)		9,882	1989	1992
Hidden Creek	Chattanooga, TN		—			972		8,954		—		7,157		972		16,111		17,083		(8,444	)		8,639	1987	1988
Steeplechase	Chattanooga, TN		—			217		1,957		—		4,380		217		6,337		6,554		(4,022	)		2,532	1986	1991
Windridge	Chattanooga, TN		—			817		7,416		—		4,631		817		12,047		12,864		(8,910	)		3,954	1984	1997
Kirby Station	Memphis, TN		—			1,148		10,337		—		10,312		1,148		20,649		21,797		(15,656	)		6,141	1978	1994
Lincoln on the Green	Memphis, TN		—			1,498		20,483		—		16,990		1,498		37,473		38,971		(28,748	)		10,223	1992	1994
Park Estate	Memphis, TN		—			178		1,141		—		3,620		178		4,761		4,939		(3,593	)		1,346	1974	1977
Reserve at Dexter Lake	Memphis, TN		—			3,407		16,043		—		46,439		3,407		62,482		65,889		(32,288	)		33,601	2000	1998
Paddock Club Murfreesboro	Murfreesboro, TN		—			915		14,774		—		4,242		915		19,016		19,931		(11,147	)		8,784	1999	1998
Acklen West End	Nashville, TN		—			12,761		58,906		—		2,162		12,761		61,068		73,829		(9,012	)		64,817	2015	2017
Aventura at Indian Lake Village	Nashville, TN		—			4,950		28,053		—		2,838		4,950		30,891		35,841		(10,932	)		24,909	2010	2011
Avondale at Kennesaw	Nashville, TN		—			3,456		22,443		—		4,884		3,456		27,327		30,783		(10,454	)		20,329	2008	2010
Brentwood Downs	Nashville, TN		—			1,191		10,739		—		8,926		1,191		19,665		20,856		(14,160	)		6,696	1986	1994
Charlotte at Midtown	Nashville, TN		—			7,898		54,480		—		2,543		7,898		57,023		64,921		(7,923	)		56,998	2016	2017
MAA Bellevue	Nashville, TN		—			17,193		64,196		—		7,385		17,193		71,581		88,774		(20,047	)		68,727	1996/ 2015	2013
Grande View Nashville	Nashville, TN		—			2,963		33,673		—		9,215		2,963		42,888		45,851		(23,596	)		22,255	2001	1998
Monthaven Park	Nashville, TN		—			2,736		28,902		—		6,677		2,736		35,579		38,315		(21,250	)		17,065	2000	2004
Park at Hermitage	Nashville, TN		—			1,524		14,800		—		8,810		1,524		23,610		25,134		(18,651	)		6,483	1987	1995
Venue at Cool Springs	Nashville, TN		—			6,670		—		—		53,880		6,670		53,880		60,550		(13,391	)		47,159	2012	2010
Verandas at Sam Ridley	Nashville, TN		—			3,350		28,308		—		4,450		3,350		32,758		36,108		(12,728	)		23,380	2009	2010
Balcones Woods	Austin, TX		—			1,598		14,398		—		13,348		1,598		27,746		29,344		(17,814	)		11,530	1983	1997
Colonial Grand at Canyon Creek	Austin, TX		—			3,621		32,137		—		2,834		3,621		34,971		38,592		(12,289	)		26,303	2008	2013
Colonial Grand at Canyon Pointe	Austin, TX		—			3,778		20,201		—		3,803		3,778		24,004		27,782		(9,105	)		18,677	2003	2013
Colonial Grand at Double Creek	Austin, TX		—			3,131		29,375		—		2,165		3,131		31,540		34,671		(10,964	)		23,707	2013	2013
Colonial Grand at Onion Creek	Austin, TX		—			4,902		33,010		—		3,775		4,902		36,785		41,687		(13,093	)		28,594	2009	2013
Colonial Grand at Wells Branch	Austin, TX		—	(1)		3,722		32,283		—		3,584		3,722		35,867		39,589		(11,797	)		27,792	2008	2013
Colonial Village at Quarry Oaks	Austin, TX		—			4,621		34,461		—		13,557		4,621		48,018		52,639		(16,287	)		36,352	1996	2013
Grand Reserve at Sunset Valley	Austin, TX		—			3,150		11,393		—		5,964		3,150		17,357		20,507		(9,060	)		11,447	1996	2004
Legacy at Western Oaks	Austin, TX		—	(2)		9,100		49,339		—		3,585		9,100		52,924		62,024		(17,916	)		44,108	2001	2009
Post Barton Creek	Austin, TX		—			8,683		21,497		—		4,554		8,683		26,051		34,734		(5,509	)		29,225	1998	2016
Post Park Mesa	Austin, TX		—			4,653		19,828		—		2,139		4,653		21,967		26,620		(4,366	)		22,254	1992	2016
Post South Lamar	Austin, TX		—			20,542		74,093		—		28,756		20,542		102,849		123,391		(18,243	)		105,148	2011/17	2016
Post West Austin	Austin, TX		—	(1)		7,805		48,843		—		2,721		7,805		51,564		59,369		(12,559	)		46,810	2009	2016
Silverado at Brushy Creek	Austin, TX		—			2,900		24,009		—		5,716		2,900		29,725		32,625		(15,620	)		17,005	2003	2006
Sixty 600	Austin, TX		—			2,281		6,169		—		9,559		2,281		15,728		18,009		(9,965	)		8,044	1987	1995
Stassney Woods	Austin, TX		—			1,621		7,501		—		8,881		1,621		16,382		18,003		(11,058	)		6,945	1985	1995
The Woods on Barton Skyway	Austin, TX		—			1,405		12,769		—		12,858		1,405		25,627		27,032		(13,377	)		13,655	1977	1997
MAA Shoal Creek	Bedford, TX		—			4,982		27,377		—		5,362		4,982		32,739		37,721		(12,190	)		25,531	1996	2013
MAA Willow Creek	Bedford, TX		—			3,109		33,488		—		10,314		3,109		43,802		46,911		(16,203	)		30,708	1996	2013
MAA Hebron	Carrollton, TX		—			4,231		42,237		—		2,673		4,231		44,910		49,141		(14,424	)		34,717	2011	2013
Colonial Grand at Silverado	Cedar Park, TX		—			3,282		24,935		—		2,357		3,282		27,292		30,574		(9,505	)		21,069	2005	2013
Colonial Grand at Silverado Reserve	Cedar Park, TX		—			3,951		31,705		—		3,093		3,951		34,798		38,749		(11,946	)		26,803	2005	2013
Grand Cypress	Cypress, TX		—			3,881		24,267		—		4,447		3,881		28,714		32,595		(7,051	)		25,544	2008	2013
MAA Medical District	Dallas, TX		—			4,050		33,779		—		3,683		4,050		37,462		41,512		(11,481	)		30,031	2007	2013
MAA Highlands North	Dallas, TX		—			988		8,893		—		4,582		988		13,475		14,463		(9,545	)		4,918	1986	1998
MAA Deer Run	Dallas, TX		—			1,252		11,271		—		5,371		1,252		16,642		17,894		(12,343	)		5,551	1985	1998


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2021
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
MAA Grand Courtyards	Dallas, TX		—			2,730		22,240		—		5,604		2,730		27,844		30,574		(14,215	)		16,359	2000	2006
MAA Lowes Farm	Dallas, TX		—			5,016		41,091		—		3,976		5,016		45,067		50,083		(16,047	)		34,036	2008	2011
MAA Frisco Bridges	Dallas, TX		—			14,845		66,571		—		64,427		14,845		130,998		145,843		(24,007	)		121,836	2009/13/21	2013
MAA McKinney Avenue	Dallas, TX		—			34,765		40,127		—		10,151		34,765		50,278		85,043		(10,590	)		74,453	1993/96	2016
MAA Worthington	Dallas, TX		—			13,713		43,268		—		8,461		13,713		51,729		65,442		(9,534	)		55,908	1993/ 2008	2016
MAA Abbey	Dallas, TX		—			2,711		4,369		—		705		2,711		5,074		7,785		(1,056	)		6,729	1996	2016
MAA Addison Circle	Dallas, TX		—			12,308		189,419		—		24,510		12,308		213,929		226,237		(42,860	)		183,377	1998-2000	2016
MAA North Hall	Dallas, TX		—			13,030		14,383		—		3,601		13,030		17,984		31,014		(4,348	)		26,666	1998	2016
MAA Eastside	Dallas, TX		—			7,134		58,095		—		4,539		7,134		62,634		69,768		(13,489	)		56,279	2008	2016
MAA Gallery	Dallas, TX		—			4,391		7,910		—		1,320		4,391		9,230		13,621		(2,380	)		11,241	1999	2016
MAA Heights	Dallas, TX		—			26,245		37,922		—		3,352		26,245		41,274		67,519		(9,058	)		58,461	1998-1999/ 2009	2016
MAA Katy Trail	Dallas, TX		—			10,333		32,456		—		1,932		10,333		34,388		44,721		(6,491	)		38,230	2010	2016
MAA Legacy	Dallas, TX		—	(1)		6,575		55,277		—		5,907		6,575		61,184		67,759		(12,428	)		55,331	2000	2016
MAA Meridian	Dallas, TX		—			8,780		13,654		—		1,045		8,780		14,699		23,479		(3,331	)		20,148	1991	2016
MAA Uptown Village	Dallas, TX		—			34,974		33,213		—		8,201		34,974		41,414		76,388		(9,345	)		67,043	1995-2000	2016
MAA Watermark	Dallas, TX		—			960		14,438		—		4,409		960		18,847		19,807		(10,354	)		9,453	2002	2004
MAA Bear Creek	Euless, TX		—			6,453		30,048		—		4,494		6,453		34,542		40,995		(13,236	)		27,759	1998	2013
MAA Fairview	Fairview, TX		—			2,171		35,077		—		1,822		2,171		36,899		39,070		(11,685	)		27,385	2012	2013
MAA Starwood	Frisco, TX		—			3,240		26,069		—		2,795		3,240		28,864		32,104		(11,239	)		20,865	2009	2010
MAA Grapevine	Grapevine, TX		—			2,351		29,757		—		8,212		2,351		37,969		40,320		(13,295	)		27,025	1985/86	2013
Greenwood Forest	Houston, TX		—			3,465		23,482		—		2,452		3,465		25,934		29,399		(7,829	)		21,570	1994	2013
Legacy Pines	Houston, TX		—			2,142		19,066		—		4,379		2,142		23,445		25,587		(14,293	)		11,294	1999	2003
Park Place Houston	Houston, TX		—			2,061		15,830		—		3,783		2,061		19,613		21,674		(9,779	)		11,895	1996	2007
Post 510	Houston, TX		—			7,226		33,366		—		1,783		7,226		35,149		42,375		(7,919	)		34,456	2014	2016
Post at Afton Oaks	Houston, TX		—			11,503		65,469		—		4,334		11,503		69,803		81,306		(18,246	)		63,060	2017	2016
Post Midtown Square	Houston, TX		—			19,038		89,570		—		6,991		19,038		96,561		115,599		(20,546	)		95,053	1999/ 2013	2016
Ranchstone	Houston, TX		—			1,480		14,807		—		3,799		1,480		18,606		20,086		(9,084	)		11,002	1996	2007
Reserve at Woodwind Lakes	Houston, TX		—			1,968		19,928		—		5,351		1,968		25,279		27,247		(12,905	)		14,342	1999	2006
Retreat at Vintage Park	Houston, TX		—	(1)		8,211		40,352		—		2,118		8,211		42,470		50,681		(8,011	)		42,670	2014	2014
Yale at 6th	Houston, TX		—	(2)		13,107		62,764		—		2,688		13,107		65,452		78,559		(10,337	)		68,222	2015	2016
Cascade at Fall Creek	Humble, TX		—			5,985		40,011		—		4,543		5,985		44,554		50,539		(20,927	)		29,612	2007	2007
MAA Bella Casita	Irving, TX		—			2,521		26,432		—		5,841		2,521		32,273		34,794		(11,516	)		23,278	2007	2010
MAA Valley Ranch	Irving, TX		—			5,072		37,397		—		14,559		5,072		51,956		57,028		(20,326	)		36,702	1997	2013
MAA Las Colinas	Irving, TX		—	(2)		3,902		40,691		—		3,310		3,902		44,001		47,903		(13,519	)		34,384	2006	2013
MAA Remington Hills	Irving, TX		—			4,390		21,822		—		13,684		4,390		35,506		39,896		(12,627	)		27,269	1984	2013
MAA Oakbend	Lewisville, TX		—			5,598		28,616		—		7,081		5,598		35,697		41,295		(12,740	)		28,555	1997	2013
MAA Times Square	McKinney, TX		—			1,130		28,058		—		6,365		1,130		34,423		35,553		(13,626	)		21,927	2009	2010
MAA Stonebridge Ranch	McKinney, TX		—			4,034		19,528		—		3,322		4,034		22,850		26,884		(6,502	)		20,382	2000	2013
MAA Market Center	Plano, TX		—			16,894		110,705		—		5,177		16,894		115,882		132,776		(21,161	)		111,615	2013/15	2014
MAA Highwood	Plano, TX		—			864		7,783		—		3,950		864		11,733		12,597		(8,329	)		4,268	1983	1998
MAA Los Rios	Plano, TX		—			3,273		28,823		—		7,541		3,273		36,364		39,637		(21,553	)		18,084	2000	2003
MAA Boulder Ridge	Roanoke, TX		—			3,382		26,930		—		7,780		3,382		34,710		38,092		(18,764	)		19,328	1999	2005
MAA Copper Ridge	Roanoke, TX		—			4,166		—		—		48,086		4,166		48,086		52,252		(10,162	)		42,090	2009/20	2008
Colonial Grand at Ashton Oaks	Round Rock, TX		—			5,511		36,241		—		3,820		5,511		40,061		45,572		(13,914	)		31,658	2009	2013
Colonial Grand at Round Rock	Round Rock, TX		—			4,691		45,379		—		3,652		4,691		49,031		53,722		(16,773	)		36,949	1997	2013
Colonial Village at Sierra Vista	Round Rock, TX		—			2,561		16,488		—		4,877		2,561		21,365		23,926		(8,291	)		15,635	1999	2013
Alamo Ranch	San Antonio, TX		—			2,380		26,982		—		3,734		2,380		30,716		33,096		(11,860	)		21,236	2009	2011
Bulverde Oaks	San Antonio, TX		—			4,257		36,759		—		2,476		4,257		39,235		43,492		(7,677	)		35,815	2014	2014
Haven at Blanco	San Antonio, TX		—			5,411		45,958		—		4,559		5,411		50,517		55,928		(16,680	)		39,248	2010	2012
Stone Ranch at Westover Hills	San Antonio, TX		—			4,000		24,992		—		3,707		4,000		28,699		32,699		(12,093	)		20,606	2009	2009
Cypresswood Court	Spring, TX		—			576		5,190		—		5,205		576		10,395		10,971		(6,637	)		4,334	1984	1994
Villages at Kirkwood	Stafford, TX		—			1,918		15,846		—		3,783		1,918		19,629		21,547		(11,038	)		10,509	1996	2004
Green Tree Place	Woodlands, TX		—			539		4,850		—		4,037		539		8,887		9,426		(6,767	)		2,659	1984	1994
Stonefield Commons	Charlottesville, VA		—			11,044		36,689		—		2,021		11,044		38,710		49,754		(7,813	)		41,941	2013	2014
Adalay Bay	Chesapeake, VA		—			5,280		31,341		—		4,077		5,280		35,418		40,698		(12,545	)		28,153	2002	2012
Apartments at Cobblestone Square	Fredericksburg, VA		—			10,990		48,696		—		3,894		10,990		52,590		63,580		(11,512	)		52,068	2012	2016
Colonial Village at Greenbrier	Fredericksburg, VA		—			4,842		21,677		—		3,763		4,842		25,440		30,282		(8,048	)		22,234	1980	2013
Seasons at Celebrate Virginia	Fredericksburg, VA		—			14,490		32,083		—		41,603		14,490		73,686		88,176		(20,119	)		68,057	2011	2011
Station Square at Cosner's Corner	Fredericksburg, VA		—			12,825		51,078		—		2,714		12,825		53,792		66,617		(10,900	)		55,717	2013/16	2013
Colonial Village at Hampton Glen	Glen Allen, VA		—			4,851		21,678		—		4,324		4,851		26,002		30,853		(9,109	)		21,744	1986	2013
Colonial Village at West End	Glen Allen, VA		—			4,661		18,908		—		3,478		4,661		22,386		27,047		(7,855	)		19,192	1987	2013
Township	Hampton, VA		—			1,509		8,189		—		8,972		1,509		17,161		18,670		(12,521	)		6,149	1987	1995
Colonial Village at Waterford	Midlothian, VA		—			6,733		29,221		—		6,193		6,733		35,414		42,147		(12,905	)		29,242	1989	2013
Radius	Newport News, VA		—			5,040		36,481		—		4,278		5,040		40,759		45,799		(7,742	)		38,057	2012	2015
Ashley Park	Richmond, VA		—			4,761		13,365		—		3,654		4,761		17,019		21,780		(6,640	)		15,140	1988	2013
Colonial Village at Chase Gayton	Richmond, VA		—			6,021		29,004		—		4,710		6,021		33,714		39,735		(12,123	)		27,612	1984	2013
Hamptons at Hunton Park	Richmond, VA		—			4,930		35,598		—		6,593		4,930		42,191		47,121		(15,221	)		31,900	2003	2011
Retreat at West Creek	Richmond, VA		—			10,112		36,136		—		15,486		10,112		51,622		61,734		(8,574	)		53,160	2015/17	2015
Post Carlyle Square	Washington D.C.		—			29,728		154,309		—		4,980		29,728		159,289		189,017		(30,892	)		158,125	2006/13	2016
Post Corners at Trinity Center	Washington D.C.		—			7,664		70,012		—		3,169		7,664		73,181		80,845		(14,370	)		66,475	1996	2016


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2021
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
Post Fallsgrove	Washington D.C.		—			17,524		58,896		—		4,854		17,524		63,750		81,274		(13,064	)		68,210	2003	2016
Post Park	Washington D.C.		—			5,355		79,842		—		3,766		5,355		83,608		88,963		(20,986	)		67,977	2010	2016
MAA National Landing	Washington D.C.		—			30,452		125,091		—		18,101		30,452		143,192		173,644		(27,722	)		145,922	2001	2016
Post Tysons Corner	Washington D.C.		—			30,776		82,021		—		7,680		30,776		89,701		120,477		(17,325	)		103,152	1990	2016
MAA Robinson	Orlando, FL		—			6,003		—		—		91,062		6,003		91,062		97,065		(1,887	)		95,178	2021	2018
Total Residential Properties			5,262			1,840,840		9,864,650		—		2,367,555		1,840,840		12,232,205		14,073,045		(3,784,517	)		10,288,528
Colonial Promenade at Huntsville Retail	Huntsville, AL		—			355		—		—		—		355		—		355		—			355	2017	2013
220 Riverside Retail	Jacksonville, FL		—			119		2,902		—		701		119		3,603		3,722		(277	)		3,445	2015	2019
MAA Parkside Retail	Orlando, FL		—			742		11,924		—		1,317		742		13,241		13,983		(2,645	)		11,338	1999	2016
Post Harbour Place Retail	Tampa, FL		—			386		4,315		—		351		386		4,666		5,052		(897	)		4,155	1997	2016
Post Rocky Point Retail	Tampa, FL		—			34		51		—		403		34		454		488		(200	)		288	1994-1996	2016
Post Soho Square Retail	Tampa, FL		—	(1)		268		4,033		—		14		268		4,047		4,315		(1,113	)		3,202	2012	2016
MAA Buckhead Retail	Atlanta, GA		—			867		3,465		—		977		867		4,442		5,309		(1,246	)		4,063	2012	2012
MAA Piedmont Park Retail	Atlanta, GA		—			426		1,089		—		22		426		1,111		1,537		(237	)		1,300	1999	2016
MAA Riverside Office	Atlanta, GA		—			9,680		22,108		—		10,165		9,680		32,273		41,953		(7,611	)		34,342	1996	2016
MAA Riverside Retail	Atlanta, GA		—			889		2,340		—		2,609		889		4,949		5,838		(892	)		4,946	1996	2016
Post Training Facility	Atlanta, GA		—			1,092		968		—		33		1,092		1,001		2,093		(406	)		1,687	1999	2016
MAA West Village Retail	Smyrna, GA		—			3,408		8,446		—		1,629		3,408		10,075		13,483		(2,485	)		10,998	2012	2014
The Denton Retail	Kansas City, MO		—			700		4,439		—		747		700		5,186		5,886		(1,018	)		4,868	2014	2015
MAA 1225 Retail	Charlotte, NC		—			52		199		—		249		52		448		500		(174	)		326	2010	2010
MAA Gateway Retail	Charlotte, NC		—			318		1,430		—		13		318		1,443		1,761		(321	)		1,440	2000	2016
MAA South Line Retail	Charlotte, NC		—			470		1,289		—		207		470		1,496		1,966		(318	)		1,648	2009	2016
MAA Uptown Retail	Charlotte, NC		—			319		1,144		—		25		319		1,169		1,488		(239	)		1,249	1998	2016
MAA Leasing Center	Charlotte, NC		—			1,290		1,488		—		151		1,290		1,639		2,929		(332	)		2,597	1998	2016
Hue Retail	Raleigh, NC		—			—		2,129		—		77		—		2,206		2,206		(253	)		1,953	2010	2018
Post Parkside at Wade Retail	Raleigh, NC		—			317		4,552		—		94		317		4,646		4,963		(1,227	)		3,736	2011	2016
The Greene Retail	Greenville, SC		—			—		—		—		—		—		—		—		—			—	2019	2019
Post South Lamar Retail	Austin, TX		—			421		3,072		—		676		421		3,748		4,169		(692	)		3,477	2011	2016
MAA Frisco Bridges Retail	Dallas, TX		—			779		6,593		—		676		779		7,269		8,048		(1,659	)		6,389	2009	2016
MAA McKinney Avenue Retail	Dallas, TX		—			1,581		5,982		—		270		1,581		6,252		7,833		(1,245	)		6,588	1996	2016
MAA Worthington Retail	Dallas, TX		—			108		495		—		422		108		917		1,025		(153	)		872	1993/ 2008	2016
MAA Addison Circle Office	Dallas, TX		—			1,395		4,280		—		877		1,395		5,157		6,552		(1,509	)		5,043	1998-2000	2016
MAA Addison Circle Retail	Dallas, TX		—			448		21,386		—		2,365		448		23,751		24,199		(5,482	)		18,717	1998-2000	2016
MAA North Hall Retail	Dallas, TX		—			347		716		—		76		347		792		1,139		(201	)		938	1998	2016
MAA Eastside Retail	Dallas, TX		—			682		10,645		—		509		682		11,154		11,836		(2,289	)		9,547	2008	2016
MAA Heights Retail	Dallas, TX		—			1,065		3,314		—		396		1,065		3,710		4,775		(750	)		4,025	1997	2016
MAA Katy Trail Retail	Dallas, TX		—			465		4,883		—		99		465		4,982		5,447		(952	)		4,495	2010	2016
MAA Legacy Retail	Dallas, TX		—	(1)		150		3,334		—		444		150		3,778		3,928		(698	)		3,230	2000	2016
Post Midtown Square Retail	Houston, TX		—			1,322		16,005		—		491		1,322		16,496		17,818		(3,257	)		14,561	1999/ 2013	2016
Rise Condo Devel LP Retail	Houston, TX		—			—		2,280		—		67		—		2,347		2,347		(478	)		1,869	1999/ 2013	2016
MAA Bella Casita Retail	Irving, TX		—			46		186		—		178		46		364		410		(134	)		276	2007	2010
MAA Times Square Retail	McKinney, TX		—			253		1,310		—		4,294		253		5,604		5,857		(1,200	)		4,657	2009	2010
Post Carlyle Square Retail	Washington D.C.		—			1,048		7,930		—		67		1,048		7,997		9,045		(1,616	)		7,429	2006/16	2016
Post Park Maryland Retail	Washington D.C.		—			25		137		—		—		25		137		162		(23	)		139	2007	2016
MAA Robinson Retail	Orlando, FL		—			—		563		—		—		—		563		563		(7	)		556	2021	2018
Total Retail / Commercial Properties			—			31,867		171,422		—		31,691		31,867		203,113		234,980		(44,236	)		190,744
MAA Westglenn	Denver, CO		—			8,077		—		—		73,094		8,077		73,094		81,171		(1,005	)		80,166	N/A	2018
MAA Park Point	Houston, TX		—			9,031		—		—		43,977		9,031		43,977		53,008		(455	)		52,553	N/A	2018
MAA Windmill Hill	Austin, TX		—			5,006		—		—		37,560		5,006		37,560		42,566		—			42,566	N/A	2020
Novel Val Vista	Gilbert, AZ		—			7,285		—		—		29,253		7,285		29,253		36,538		—			36,538	N/A	2020
Novel West Midtown	Atlanta, GA		—			6,650		—		—		23,612		6,650		23,612		30,262		—			30,262	N/A	2021
Novel Daybreak	Salt Lake City, UT		—			6,525		—		—		27,392		6,525		27,392		33,917		—			33,917	N/A	2021
Total Active Development Properties			—			42,574		—		—		234,888		42,574		234,888		277,462		(1,460	)		276,002
Total Properties			5,262			1,915,281		10,036,072		—		2,634,134		1,915,281		12,670,206		14,585,487		(3,830,213	)		10,755,274
Total Land Held for Future Developments			—			24,015		—		—		—		24,015		—		24,015		—			24,015	N/A	Various
Total Properties in Predevelopment			—			62,532		—		—		7,695		62,532		7,695		70,227		(71	)		70,156	N/A	Various
Corporate Properties			—			—		24,508		—		—		—		24,508		24,508		(17,877	)		6,631	Various	Various
Total Other			—			86,547		24,508		—		7,695		86,547		32,203		118,750		(17,948	)		100,802
Total Real Estate Assets, net of Real Estate Joint Venture		$	5,262		$	2,001,828	$	10,060,580	$	—	$	2,641,829	$	2,001,828	$	12,702,409	$	14,704,237	$	(3,848,161	)	$	10,856,076

(1)

Encumbered by a $191.3 million secured property mortgage, with a fixed interest rate of 4.43%, which matures on February 10, 2049.

(2)

Encumbered by a $172.0 million secured property mortgage, with a fixed interest rate of 4.44%, which matures on January 10, 2049.

(3)

The aggregate cost for federal income tax purposes was approximately $11.8 billion as of December 31, 2021. The aggregate cost for book purposes exceeds the total gross amount of real estate assets for federal income tax purposes, principally due to purchase accounting adjustments recorded under accounting principles generally accepted in the United States of America.

(4)

Depreciation is recognized on a straight-line basis over the estimated useful asset life, which ranges from five to 40 years for land improvements and buildings, three to five years for furniture, fixtures and equipment and approximately six months for the fair market value of in-place residential leases.

Mid-America Apartment Communities, Inc. and Mid-America Apartments, L.P.

Schedule III — Real Estate and Accumulated Depreciation

Years ended December 31, 2021, 2020 and 2019

The following table summarizes the Company’s changes in real estate investments and accumulated depreciation for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands):


	2021			2020			2019
Real estate investments:
Balance at beginning of year	$	14,338,895		$	13,898,707		$	13,656,807
Acquisitions (1)		44,086			56,327			105,730
Less: FMV of leases included in acquisitions		—			—			(512	)
Improvement and development		506,775			437,268			302,380
Disposition of real estate assets (2)		(185,519	)		(53,407	)		(165,698	)
Balance at end of year	$	14,704,237		$	14,338,895		$	13,898,707
Accumulated depreciation:
Balance at beginning of year	$	3,415,105		$	2,955,253		$	2,549,287
Depreciation		531,848			508,746			493,674
Disposition of real estate assets (2)		(98,792	)		(48,894	)		(87,708	)
Balance at end of year	$	3,848,161		$	3,415,105		$	2,955,253

(1)

Includes non-cash activity related to acquisitions.

(2)

Includes assets sold, casualty losses, and removal of certain fully depreciated assets.

See accompanying reports of independent registered public accounting firm.