Real Estate Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2022

Real Estate Acquisitions and Dispositions

14.

Real Estate Acquisitions and Dispositions

During the year ended December 31, 2022, the Company acquired a 196-unit multifamily apartment community located in the Tampa, Florida market for approximately $73 million, a 344-unit multifamily apartment community located in the Charlotte, North Carolina market for approximately $140 million. The following table reflects the Company’s acquisition activity for the year ended December 31, 2022:


Multifamily Acquisitions	Market	Units	Date Acquired
MAA Hampton Preserve II	Tampa, FL	196	July 2022
MAA LoSo	Charlotte, NC	344	September 2022

During the year ended December 31, 2022, the Company acquired five land parcels for future development for approximately $59 million.


Land Acquisitions	Market	Acres	Date Acquired
MAA Florida Street Station	Denver, CO	4	March 2022
MAA Packing District	Orlando, FL	4	May 2022
MAA Panorama	Denver, CO	6	July 2022
MAA Nixie	Raleigh, NC	6	November 2022
Alta 10th (1)	Charlotte, NC	3	December 2022

(1)

Represents a pre-purchase multifamily development. Approximately $10 million has been funded as of December 31, 2022, primarily related to land, with development expected to begin in the second half of 2023. MAA owns 95% of the joint venture that owns this property.

During the year ended December 31, 2022, the Company closed on two dispositions in the Fort Worth, Texas market, one disposition in Maryland and one disposition in the Austin, Texas market. The Company received combined gross proceeds of approximately $325 million and recognized a combined gain on the sale of depreciable real estate assets of approximately $215 million. The following table reflects the Company’s disposition activity for the year ended December 31, 2022:


Multifamily Dispositions	Market	Units	Date Sold
MAA Deer Run	Fort Worth, TX	304	June 2022
MAA Oakbend	Fort Worth, TX	426	June 2022
Post Park Maryland	Maryland, MD	396	October 2022
Stassney Woods	Austin, TX	288	December 2022

During the year ended December 31, 2022, the Company closed on the disposition of two land parcels in the Huntsville, Alabama market for combined gross proceeds of approximately $1 million, resulting in the recognition of a negligible gain on the sale of non-depreciable real estate assets.


Land Dispositions	Market	Acres	Date Sold
Colonial Promenade	Huntsville, AL	2	April 2022
Colonial Promenade	Huntsville, AL	3	August 2022