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Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2023
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	$	—	$	4,874	$	2,641	$	33,716	$	36,357	$	(14,048	)	$	22,309	2009	2011
Colonial Grand at Riverchase Trails	Birmingham, AL		—			3,762		22,079		—		7,639		3,762		29,718		33,480		(13,775	)		19,705	2010	2013
Colonial Village at Trussville	Birmingham, AL		—			3,403		31,813		—		7,581		3,403		39,394		42,797		(16,557	)		26,240	1996/97	2013
Eagle Ridge	Birmingham, AL		—			852		7,667		—		6,044		852		13,711		14,563		(10,133	)		4,430	1986	1998
Colonial Grand at Traditions	Gulf Shores, AL		—			3,212		25,162		—		7,726		3,212		32,888		36,100		(14,324	)		21,776	2007	2013
Colonial Grand at Edgewater	Huntsville, AL		—			4,944		38,673		—		10,725		4,944		49,398		54,342		(19,236	)		35,106	1990	2013
Paddock Club at Providence	Huntsville, AL		—			1,740		10,152		—		19,404		1,740		29,556		31,296		(18,831	)		12,465	1993	1997
Colonial Grand at Madison	Madison, AL		—			3,602		28,934		—		4,895		3,602		33,829		37,431		(14,534	)		22,897	2000	2013
Cypress Village	Orange Beach, AL		—			1,290		12,238		—		3,536		1,290		15,774		17,064		(6,523	)		10,541	2008	2013
Colonial Grand at Liberty Park	Vestavia Hills, AL		—			3,922		30,977		—		10,185		3,922		41,162		45,084		(17,933	)		27,151	2000	2013
MAA Sky View	Gilbert, AZ		—			2,668		14,577		—		3,453		2,668		18,030		20,698		(9,220	)		11,478	2007	2009
MAA City Gate	Mesa, AZ		—			4,219		26,255		—		5,505		4,219		31,760		35,979		(13,121	)		22,858	2002	2013
MAA Lyon's Gate	Phoenix, AZ		—			7,901		27,182		—		5,241		7,901		32,423		40,324		(16,691	)		23,633	2007	2008
MAA Fountainhead	Phoenix, AZ		—	(1)		12,212		56,705		—		3,705		12,212		60,410		72,622		(13,915	)		58,707	2015	2016
MAA Foothills	Phoenix, AZ		—			12,741		47,701		—		6,651		12,741		54,352		67,093		(31,364	)		35,729	2005	2006
MAA Phoenix Midtown	Phoenix, AZ		—			9,001		—		—		74,433		9,001		74,433		83,434		(10,403	)		73,031	2021	2019
MAA Central Ave	Phoenix, AZ		—			11,323		90,350		—		—		11,323		90,350		101,673		(541	)		101,132	2022	2023
MAA Old Town Scottsdale	Scottsdale, AZ		—			7,820		51,627		—		13,075		7,820		64,702		72,522		(24,850	)		47,672	1994/95	2013
MAA Camelback	Scottsdale, AZ		—			3,612		20,273		—		7,136		3,612		27,409		31,021		(10,475	)		20,546	1999	2013
MAA SkySong	Scottsdale, AZ		—			—		55,748		—		5,160		—		60,908		60,908		(14,354	)		46,554	2014	2015
MAA River North	Denver, CO		—			14,500		28,900		—		41,814		14,500		70,714		85,214		(14,943	)		70,271	2018	2016
MAA Promenade	Denver, CO		—			24,111		81,317		—		23,171		24,111		104,488		128,599		(18,619	)		109,980	2017/19	2018
MAA Westglenn	Denver, CO		—			8,077		—		—		74,335		8,077		74,335		82,412		(9,398	)		73,014	2021	2018
MAA Tiffany Oaks	Altamonte Springs, FL		—			1,024		9,219		—		8,512		1,024		17,731		18,755		(12,741	)		6,014	1985	1996
MAA Lakewood Ranch	Bradenton, FL		—			2,980		40,230		—		10,220		2,980		50,450		53,430		(19,988	)		33,442	1999	2013
MAA Indigo Point	Brandon, FL		—			1,167		10,500		—		6,619		1,167		17,119		18,286		(11,661	)		6,625	1989	2000
MAA Brandon	Brandon, FL		—			2,896		26,111		—		10,844		2,896		36,955		39,851		(26,741	)		13,110	1998	1997
MAA Coral Springs	Coral Springs, FL		—			9,600		40,004		—		19,014		9,600		59,018		68,618		(34,915	)		33,703	1996	2004
Paddock Club Gainesville	Gainesville, FL		—			1,800		15,879		—		7,070		1,800		22,949		24,749		(13,687	)		11,062	1999	1998
Retreat at Magnolia Parke	Gainesville, FL		—			2,040		16,338		—		1,973		2,040		18,311		20,351		(7,986	)		12,365	2009	2011
MAA Heathrow	Heathrow, FL		—			4,101		35,684		—		6,673		4,101		42,357		46,458		(18,480	)		27,978	1997	2013
220 Riverside	Jacksonville, FL		—			2,381		35,514		—		9,621		2,381		45,135		47,516		(10,000	)		37,516	2015	2012
Atlantic Crossing	Jacksonville, FL		—			4,000		19,495		—		4,420		4,000		23,915		27,915		(10,140	)		17,775	2008	2011
Coopers Hawk	Jacksonville, FL		—			854		7,500		—		5,620		854		13,120		13,974		(10,199	)		3,775	1987	1995
Hunters Ridge Deerwood	Jacksonville, FL		—			1,533		13,835		—		7,159		1,533		20,994		22,527		(16,017	)		6,510	1987	1997
Lakeside	Jacksonville, FL		—			1,430		12,883		—		10,902		1,430		23,785		25,215		(18,466	)		6,749	1985	1996
Lighthouse at Fleming Island	Jacksonville, FL		—			4,047		35,052		—		7,883		4,047		42,935		46,982		(27,537	)		19,445	2003	2003
Paddock Club Mandarin	Jacksonville, FL		—			1,411		14,967		—		5,267		1,411		20,234		21,645		(12,142	)		9,503	1998	1998
MAA Mandarin Lakes	Jacksonville, FL		—			2,857		6,475		—		23,781		2,857		30,256		33,113		(15,848	)		17,265	1987/2008	1995
Tattersall at Tapestry Park	Jacksonville, FL		—			6,417		36,069		—		4,235		6,417		40,304		46,721		(16,663	)		30,058	2009	2011
Woodhollow	Jacksonville, FL		—			1,678		15,179		—		11,404		1,678		26,583		28,261		(20,669	)		7,592	1986	1997
MAA Lake Mary	Lake Mary, FL		—	(2)		6,346		41,539		—		26,633		6,346		68,172		74,518		(23,829	)		50,689	2012	2013
MAA Town Park	Lake Mary, FL		—			9,223		66,873		—		11,657		9,223		78,530		87,753		(34,905	)		52,848	2004/05	2013
MAA Heather Glen	Orlando, FL		—			4,662		56,988		—		10,465		4,662		67,453		72,115		(28,202	)		43,913	2000	2013
MAA Randal Lakes	Orlando, FL		—			8,859		50,553		—		50,750		8,859		101,303		110,162		(23,114	)		87,048	2014/17	2013
MAA Robinson	Orlando, FL		—			6,003		—		—		91,741		6,003		91,741		97,744		(11,620	)		86,124	2021	2018
MAA Baldwin Park	Orlando, FL		—			18,101		144,200		—		7,015		18,101		151,215		169,316		(43,119	)		126,197	2011	2016
MAA Crosswater	Orlando, FL		—			7,046		52,585		—		3,181		7,046		55,766		62,812		(14,359	)		48,453	2013	2016
MAA Parkside	Orlando, FL		—			5,669		49,754		—		10,855		5,669		60,609		66,278		(16,663	)		49,615	1999	2016
MAA Lake Nona	Orlando, FL		—			7,880		41,175		—		8,389		7,880		49,564		57,444		(20,138	)		37,306	2006	2012
Sand Lake	Orlando, FL		—			7,635		—		—		56,019		7,635		56,019		63,654		(7,632	)		56,022	2021	2019
MAA Palm Harbor	Palm Harbor, FL		—			6,900		26,613		—		6,114		6,900		32,727		39,627		(16,900	)		22,727	2000	2009
Club at Panama Beach	Panama City, FL		—			893		14,276		—		6,718		893		20,994		21,887		(13,126	)		8,761	2000	1998
MAA Twin Lakes	Sanford, FL		—			3,091		47,793		—		7,978		3,091		55,771		58,862		(22,697	)		36,165	2005	2013
Paddock Club Tallahassee	Tallahassee, FL		—			1,480		4,805		—		16,114		1,480		20,919		22,399		(16,166	)		6,233	1992	1997
Verandas at Southwood	Tallahassee, FL		—			3,600		25,914		—		3,292		3,600		29,206		32,806		(9,867	)		22,939	2003	2011
MAA Belmere	Tampa, FL		—			852		7,667		—		10,059		852		17,726		18,578		(12,488	)		6,090	1984	1994
MAA Hampton Preserve	Tampa, FL		—			17,029		131,398		—		6,709		17,029		138,107		155,136		(32,817	)		122,319	2012/21	2013/22
MAA Carrollwood	Tampa, FL		—			927		7,355		—		8,301		927		15,656		16,583		(11,174	)		5,409	1980	1998
MAA Bay View	Tampa, FL		—			4,541		28,381		—		3,215		4,541		31,596		36,137		(8,951	)		27,186	1997	2016
MAA Harbour Island	Tampa, FL		—			16,296		116,193		—		19,476		16,296		135,669		151,965		(39,833	)		112,132	1997	2016
MAA Hyde Park	Tampa, FL		—			16,891		95,259		—		13,903		16,891		109,162		126,053		(31,218	)		94,835	1994	2016
MAA Rocky Point	Tampa, FL		—			35,260		153,102		—		23,041		35,260		176,143		211,403		(50,629	)		160,774	1994-1996	2016
MAA SoHo Square	Tampa, FL		—	(1)		5,190		56,296		—		2,218		5,190		58,514		63,704		(14,636	)		49,068	2012	2016
MAA Tampa Oaks	Tampa, FL		—			2,891		19,055		—		5,038		2,891		24,093		26,984		(11,896	)		15,088	2005	2008
MAA Seven Oaks	Wesley Chapel, FL		—			3,051		42,768		—		5,171		3,051		47,939		50,990		(19,693	)		31,297	2004	2013
MAA Windermere	Windermere, FL		—	(1)		2,711		36,710		—		4,129		2,711		40,839		43,550		(16,012	)		27,538	2009	2013


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2023
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 Briarcliff	Atlanta, GA		—			24,614		114,921		—		11,207		24,614		126,128		150,742		(34,513	)		116,229	1996	2016
MAA Brookhaven	Atlanta, GA		—			29,048		106,463		—		15,230		29,048		121,693		150,741		(35,573	)		115,168	1989-1992	2016
MAA Brookwood	Atlanta, GA		—	(2)		11,168		52,758		—		8,369		11,168		61,127		72,295		(24,045	)		48,250	2008	2012
MAA Buckhead	Atlanta, GA		—			8,633		19,844		—		12,300		8,633		32,144		40,777		(13,651	)		27,126	2002	2012
MAA Centennial Park	Atlanta, GA		—			13,650		10,950		—		63,329		13,650		74,279		87,929		(13,099	)		74,830	2018	2016
MAA Chastain	Atlanta, GA		—			30,223		82,964		—		6,053		30,223		89,017		119,240		(24,772	)		94,468	1990	2016
MAA Dunwoody	Atlanta, GA		—			15,799		48,054		—		7,672		15,799		55,726		71,525		(15,838	)		55,687	1995	2016
MAA Gardens	Atlanta, GA		—			17,907		56,093		—		12,754		17,907		68,847		86,754		(19,499	)		67,255	1996	2016
MAA Glen	Atlanta, GA		—			13,878		51,079		—		9,017		13,878		60,096		73,974		(17,023	)		56,951	1996	2016
MAA Lenox	Atlanta, GA		—			23,876		165,572		—		6,392		23,876		171,964		195,840		(51,397	)		144,443	2006/15	2016
MAA Midtown	Atlanta, GA		—			7,000		44,000		—		41,969		7,000		85,969		92,969		(15,158	)		77,811	2017	2016
MAA Oglethorpe	Atlanta, GA		—			6,856		31,441		—		8,682		6,856		40,123		46,979		(19,786	)		27,193	1994	2008
MAA Peachtree Hills	Atlanta, GA		—			11,974		55,264		—		2,665		11,974		57,929		69,903		(15,439	)		54,464	1992-1994/2009	2016
MAA Piedmont Park	Atlanta, GA		—			11,025		34,277		—		6,445		11,025		40,722		51,747		(10,559	)		41,188	1999	2016
MAA Riverside	Atlanta, GA		—			23,765		89,369		—		13,151		23,765		102,520		126,285		(32,186	)		94,099	1996	2016
MAA Spring	Atlanta, GA		—			18,596		57,819		—		8,770		18,596		66,589		85,185		(20,475	)		64,710	1999	2016
MAA Stratford	Atlanta, GA		—			—		30,051		—		7,361		—		37,412		37,412		(11,622	)		25,790	1999	2016
Novel West Midtown	Atlanta, GA		—			7,000		—		—		83,646		7,000		83,646		90,646		(2,383	)		88,263	2021	2023
MAA Berkeley Lake	Duluth, GA		—			1,960		15,707		—		4,164		1,960		19,871		21,831		(9,758	)		12,073	1998	2013
MAA McDaniel Farm	Duluth, GA		—			3,985		32,206		—		8,205		3,985		40,411		44,396		(19,278	)		25,118	1997	2013
MAA Pleasant Hill	Duluth, GA		—			6,753		32,202		—		9,731		6,753		41,933		48,686		(19,200	)		29,486	1996	2013
MAA Prescott	Duluth, GA		—			3,840		24,011		—		8,458		3,840		32,469		36,309		(19,734	)		16,575	2001	2004
MAA River Oaks	Duluth, GA		—			4,349		13,579		—		5,749		4,349		19,328		23,677		(10,672	)		13,005	1992	2013
MAA River Place	Duluth, GA		—			2,059		19,158		—		6,548		2,059		25,706		27,765		(11,591	)		16,174	1994	2013
MAA Mount Vernon	Dunwoody, GA		—			6,861		23,748		—		5,707		6,861		29,455		36,316		(12,388	)		23,928	1997	2013
MAA Lake Lanier	Gainesville, GA		—			6,710		40,994		—		14,825		6,710		55,819		62,529		(33,672	)		28,857	1998/2001	2005
MAA Shiloh	Kennesaw, GA		—			4,864		45,893		—		10,243		4,864		56,136		61,000		(24,595	)		36,405	2002	2013
MAA Milstead	LaGrange, GA		—			3,100		29,240		—		5,570		3,100		34,810		37,910		(13,116	)		24,794	1998	2008
MAA Barrett Creek	Marietta, GA		—			5,661		26,186		—		5,414		5,661		31,600		37,261		(15,487	)		21,774	1999	2013
MAA Benton	Pooler, GA		—			3,550		66,347		—		10,052		3,550		76,399		79,949		(31,876	)		48,073	2001/08	2013
MAA Avala	Savannah, GA		—			1,500		24,862		—		3,616		1,500		28,478		29,978		(12,141	)		17,837	2009	2011
MAA Hammocks	Savannah, GA		—			2,441		36,863		—		9,348		2,441		46,211		48,652		(19,218	)		29,434	1997	2013
MAA Huntington	Savannah, GA		—			2,521		8,223		—		3,455		2,521		11,678		14,199		(5,107	)		9,092	1986	2013
MAA Georgetown Grove	Savannah, GA		—			1,288		11,579		—		4,878		1,288		16,457		17,745		(12,821	)		4,924	1997	1998
Oaks at Wilmington Island	Savannah, GA		—			2,864		25,315		—		7,405		2,864		32,720		35,584		(18,708	)		16,876	1999	2006
MAA West Village	Smyrna, GA		—			14,410		73,733		—		13,222		14,410		86,955		101,365		(28,750	)		72,615	2006/12	2014
Ranch at Prairie Trace	Overland Park, KS		—			3,500		40,614		—		3,881		3,500		44,495		47,995		(10,211	)		37,784	2015	2015
MAA Pinnacle	Lexington, KY		—			2,024		31,525		—		8,997		2,024		40,522		42,546		(24,708	)		17,838	2000	1998
MAA Lakepointe	Lexington, KY		—			411		3,699		—		3,327		411		7,026		7,437		(5,650	)		1,787	1986	1994
MAA Mansion	Lexington, KY		—			694		6,242		—		5,410		694		11,652		12,346		(9,078	)		3,268	1989	1994
MAA Village	Lexington, KY		—			900		8,097		—		6,144		900		14,241		15,141		(11,491	)		3,650	1989	1994
Stonemill Village	Louisville, KY		—			1,169		10,518		—		12,802		1,169		23,320		24,489		(17,951	)		6,538	1985	1994
Market Station	Kansas City, MO		—			5,814		46,241		—		5,839		5,814		52,080		57,894		(19,914	)		37,980	2010	2012
The Denton	Kansas City, MO		—			5,520		50,939		—		30,399		5,520		81,338		86,858		(17,501	)		69,357	2013/14/17	2015
MAA Beaver Creek	Apex, NC		—			7,491		34,863		—		4,819		7,491		39,682		47,173		(16,227	)		30,946	2007	2013
MAA Hermitage	Cary, NC		—			896		8,099		—		6,558		896		14,657		15,553		(11,150	)		4,403	1988	1997
MAA 900 Waterford	Cary, NC		—			4,000		20,250		—		7,150		4,000		27,400		31,400		(15,781	)		15,619	1996	2005
MAA 1225	Charlotte, NC		—			9,612		22,342		—		34,917		9,612		57,259		66,871		(18,730	)		48,141	2010	2010
MAA Ayrsley	Charlotte, NC		—			2,481		52,119		—		20,616		2,481		72,735		75,216		(27,197	)		48,019	2008	2013
MAA Ballantyne	Charlotte, NC		—			16,216		44,817		—		6,324		16,216		51,141		67,357		(14,547	)		52,810	2004	2016
MAA Beverly Crest	Charlotte, NC		—			3,161		24,004		—		7,427		3,161		31,431		34,592		(12,446	)		22,146	1996	2013
MAA Chancellor Park	Charlotte, NC		—			5,311		28,016		—		8,358		5,311		36,374		41,685		(15,200	)		26,485	1999	2013
MAA City Grand	Charlotte, NC		—			1,620		17,499		—		2,538		1,620		20,037		21,657		(7,879	)		13,778	2005	2013
MAA Enclave	Charlotte, NC		—			1,461		18,984		—		3,096		1,461		22,080		23,541		(8,308	)		15,233	2008	2013
MAA Gateway	Charlotte, NC		—			17,528		57,444		—		16,196		17,528		73,640		91,168		(20,536	)		70,632	2000	2016
MAA Legacy Park	Charlotte, NC		—			2,891		28,272		—		5,734		2,891		34,006		36,897		(14,199	)		22,698	2001	2013
MAA LoSo	Charlotte, NC		—			14,600		108,076		—		17,490		14,600		125,566		140,166		(4,707	)		135,459	2021	2022
MAA Prosperity Creek	Charlotte, NC		—			4,591		27,713		—		4,094		4,591		31,807		36,398		(13,776	)		22,622	2005	2013
MAA Reserve	Charlotte, NC		—			4,628		44,282		—		14,845		4,628		59,127		63,755		(14,935	)		48,820	2013	2013
MAA South Line	Charlotte, NC		—			18,835		58,795		—		7,132		18,835		65,927		84,762		(16,985	)		67,777	2009	2016
MAA South Park	Charlotte, NC		—			20,869		65,517		—		11,703		20,869		77,220		98,089		(22,064	)		76,025	1996	2016
MAA South Tryon	Charlotte, NC		—			2,260		19,489		—		4,506		2,260		23,995		26,255		(10,097	)		16,158	2002	2013
MAA University Lake	Charlotte, NC		—			3,250		31,389		—		7,483		3,250		38,872		42,122		(17,008	)		25,114	1998	2013
MAA Uptown	Charlotte, NC		—			10,888		30,078		—		10,015		10,888		40,093		50,981		(10,400	)		40,581	2000	2016
MAA Optimist Park	Charlotte, NC		—			10,574		95,346		—		501		10,574		95,847		106,421		(578	)		105,843	2023	2023
MAA Cornelius	Cornelius, NC		—			4,571		29,151		—		3,535		4,571		32,686		37,257		(14,397	)		22,860	2009	2013
MAA Patterson	Durham, NC		—			2,590		27,126		—		5,786		2,590		32,912		35,502		(13,674	)		21,828	1997	2013
MAA Research Park	Durham, NC		—			4,201		37,682		—		7,539		4,201		45,221		49,422		(18,992	)		30,430	2002	2013
MAA Duke Forest	Durham, NC		—			3,271		15,609		—		4,021		3,271		19,630		22,901		(9,227	)		13,674	1985	2013
MAA Huntersville	Huntersville, NC		—			4,251		31,948		—		5,568		4,251		37,516		41,767		(16,331	)		25,436	2008	2013
MAA Fifty-One	Matthews, NC		—			3,071		21,830		—		8,458		3,071		30,288		33,359		(14,171	)		19,188	2008	2013
MAA Matthews Commons	Matthews, NC		—			3,690		28,536		—		4,074		3,690		32,610		36,300		(13,855	)		22,445	2008	2013
MAA Arringdon	Morrisville, NC		—			6,401		31,134		—		7,531		6,401		38,665		45,066		(15,925	)		29,141	2003	2013
MAA Brierdale	Raleigh, NC		—			7,372		50,202		—		4,850		7,372		55,052		62,424		(22,730	)		39,694	2010	2013
MAA Brier Falls	Raleigh, NC		—			6,572		48,910		—		4,685		6,572		53,595		60,167		(21,495	)		38,672	2008	2013
MAA Crabtree	Raleigh, NC		—			2,241		18,434		—		4,821		2,241		23,255		25,496		(9,072	)		16,424	1997	2013


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2023
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 Trinity	Raleigh, NC		—			5,232		45,138		—		8,360		5,232		53,498		58,730		(22,957	)		35,773	2000/02	2013
MAA Hue	Raleigh, NC		—			3,690		29,910		—		4,193		3,690		34,103		37,793		(12,013	)		25,780	2009	2010
MAA Wade Park	Raleigh, NC		—			19,434		98,288		—		29,864		19,434		128,152		147,586		(37,983	)		109,603	2011/17/19	2016
MAA Preserve	Raleigh, NC		—			5,831		21,980		—		29,157		5,831		51,137		56,968		(26,485	)		30,483	2004	2006
MAA Providence	Raleigh, NC		—			4,695		29,007		—		3,894		4,695		32,901		37,596		(17,020	)		20,576	2007	2008
Colonial Grand at Desert Vista	North Las Vegas, NV		—			4,091		29,826		—		3,701		4,091		33,527		37,618		(14,246	)		23,372	2009	2013
Colonial Grand at Palm Vista	North Las Vegas, NV		—			4,909		25,643		—		7,347		4,909		32,990		37,899		(14,520	)		23,379	2007	2013
MAA Tanglewood	Anderson, SC		—			427		3,853		—		3,687		427		7,540		7,967		(6,146	)		1,821	1980	1994
MAA 1201 Midtown	Charleston, SC		—			18,679		63,759		—		18,891		18,679		82,650		101,329		(16,423	)		84,906	2015/18	2016
MAA Cypress Cove	Charleston, SC		—			3,610		28,645		—		6,562		3,610		35,207		38,817		(14,284	)		24,533	2001	2013
MAA Hampton Pointe	Charleston, SC		—			3,971		22,790		—		11,706		3,971		34,496		38,467		(13,937	)		24,530	1986	2013
MAA Westchase	Charleston, SC		—			4,571		20,091		—		7,226		4,571		27,317		31,888		(12,679	)		19,209	1985	2013
MAA James Island	Charleston, SC		—			920		24,097		—		8,839		920		32,936		33,856		(13,639	)		20,217	1987	2013
MAA Rivers Walk	Charleston, SC		—			8,831		39,430		—		3,992		8,831		43,422		52,253		(10,714	)		41,539	2013/16	2013
Paddock Club Columbia	Columbia, SC		—			1,840		16,560		—		7,990		1,840		24,550		26,390		(18,658	)		7,732	1991	1997
Fairways	Columbia, SC		—			910		8,207		—		3,661		910		11,868		12,778		(10,322	)		2,456	1992	1994
MAA Crowfield	Goose Creek, SC		—			1,321		14,163		—		5,678		1,321		19,841		21,162		(9,215	)		11,947	1985	2013
MAA Highland Ridge	Greenville, SC		—			482		4,337		—		3,754		482		8,091		8,573		(5,946	)		2,627	1984	1995
MAA Howell Commons	Greenville, SC		—			1,304		11,740		—		6,346		1,304		18,086		19,390		(13,871	)		5,519	1987	1997
MAA Innovation	Greenville, SC		—			4,437		52,026		—		3,607		4,437		55,633		60,070		(13,876	)		46,194	2015	2016
MAA Paddock Club	Greenville, SC		—			1,200		10,800		—		4,421		1,200		15,221		16,421		(11,631	)		4,790	1996	1997
MAA Haywood	Greenville, SC		—			360		2,925		—		6,090		360		9,015		9,375		(6,938	)		2,437	1983	1993
MAA Spring Creek	Greenville, SC		—			583		5,374		—		4,775		583		10,149		10,732		(7,336	)		3,396	1985	1995
MAA Greene	Greenville, SC		—			5,427		66,546		—		1,786		5,427		68,332		73,759		(8,152	)		65,607	2019	2019
MAA Runaway Bay	Mt. Pleasant, SC		—			1,096		7,269		—		9,438		1,096		16,707		17,803		(12,229	)		5,574	1988	1995
MAA Commerce Park	North Charleston, SC		—			2,780		33,966		—		6,753		2,780		40,719		43,499		(16,635	)		26,864	2008	2013
MAA Point Place	Simpsonville, SC		—			1,216		18,666		—		3,046		1,216		21,712		22,928		(10,103	)		12,825	2008	2010
MAA Park Place	Spartanburg, SC		—			723		6,504		—		3,428		723		9,932		10,655		(7,758	)		2,897	1987	1997
MAA Waters Edge	Summerville, SC		—			2,103		9,187		—		7,032		2,103		16,219		18,322		(8,002	)		10,320	1985	2013
MAA Farm Springs	Summerville, SC		—			2,800		26,295		—		4,312		2,800		30,607		33,407		(16,784	)		16,623	2007	2007
Hamilton Pointe	Chattanooga, TN		—			1,131		10,632		—		9,246		1,131		19,878		21,009		(11,045	)		9,964	1989	1992
Hidden Creek	Chattanooga, TN		—			972		8,954		—		8,873		972		17,827		18,799		(9,798	)		9,001	1987	1988
Steeplechase	Chattanooga, TN		—			217		1,957		—		5,598		217		7,555		7,772		(4,714	)		3,058	1986	1991
Windridge	Chattanooga, TN		—			817		7,416		—		6,003		817		13,419		14,236		(9,974	)		4,262	1984	1997
Kirby Station	Memphis, TN		—			1,148		10,337		—		12,029		1,148		22,366		23,514		(17,500	)		6,014	1978	1994
Lincoln on the Green	Memphis, TN		—			1,498		20,483		—		20,699		1,498		41,182		42,680		(32,253	)		10,427	1992	1994
Park Estate	Memphis, TN		—			178		1,141		—		4,114		178		5,255		5,433		(4,031	)		1,402	1974	1977
Reserve at Dexter Lake	Memphis, TN		—			3,407		16,043		—		52,160		3,407		68,203		71,610		(37,724	)		33,886	2000	1998
MAA Murfreesboro	Murfreesboro, TN		—			915		14,774		—		5,549		915		20,323		21,238		(12,624	)		8,614	1999	1998
MAA Acklen	Nashville, TN		—			12,761		58,906		—		2,937		12,761		61,843		74,604		(13,709	)		60,895	2015	2017
MAA Indian Lake	Nashville, TN		—			4,950		28,053		—		3,968		4,950		32,021		36,971		(13,454	)		23,517	2010	2011
MAA Kennesaw Farms	Nashville, TN		—			3,456		22,443		—		6,054		3,456		28,497		31,953		(12,804	)		19,149	2008	2010
MAA Brentwood	Nashville, TN		—			1,191		10,739		—		11,334		1,191		22,073		23,264		(16,219	)		7,045	1986	1994
MAA Charlotte Ave	Nashville, TN		—			7,898		54,480		—		3,301		7,898		57,781		65,679		(11,320	)		54,359	2016	2017
MAA Bellevue	Nashville, TN		—			17,193		64,196		—		10,042		17,193		74,238		91,431		(25,860	)		65,571	1996/2015	2013
MAA Nashville West	Nashville, TN		—			2,963		33,673		—		12,722		2,963		46,395		49,358		(26,754	)		22,604	2001	1998
MAA Monthaven Park	Nashville, TN		—			2,736		28,902		—		8,866		2,736		37,768		40,504		(24,295	)		16,209	2000	2004
MAA Park	Nashville, TN		—			1,524		14,800		—		10,369		1,524		25,169		26,693		(20,313	)		6,380	1987	1995
MAA Cool Springs	Nashville, TN		—			6,670		—		—		55,260		6,670		55,260		61,930		(16,774	)		45,156	2012	2010
MAA Sam Ridley	Nashville, TN		—			3,350		28,308		—		6,430		3,350		34,738		38,088		(15,714	)		22,374	2009	2010
MAA Balcones Woods	Austin, TX		—			1,598		14,398		—		13,464		1,598		27,862		29,460		(18,577	)		10,883	1983	1997
MAA Canyon Creek	Austin, TX		—			3,621		32,137		—		4,418		3,621		36,555		40,176		(15,269	)		24,907	2008	2013
MAA Canyon Pointe	Austin, TX		—			3,778		20,201		—		5,170		3,778		25,371		29,149		(11,400	)		17,749	2003	2013
MAA Double Creek	Austin, TX		—			3,131		29,375		—		2,777		3,131		32,152		35,283		(13,616	)		21,667	2013	2013
MAA Onion Creek	Austin, TX		—			4,902		33,010		—		4,752		4,902		37,762		42,664		(16,419	)		26,245	2009	2013
MAA Wells Branch	Austin, TX		—	(1)		3,722		32,283		—		4,612		3,722		36,895		40,617		(14,870	)		25,747	2008	2013
MAA Quarry Oaks	Austin, TX		—			4,621		34,461		—		16,399		4,621		50,860		55,481		(20,218	)		35,263	1996	2013
MAA Sunset Valley	Austin, TX		—			3,150		11,393		—		7,079		3,150		18,472		21,622		(10,495	)		11,127	1996	2004
MAA Western Oaks	Austin, TX		—	(2)		9,100		49,339		—		6,061		9,100		55,400		64,500		(22,242	)		42,258	2001	2009
MAA Barton Creek	Austin, TX		—			8,683		21,497		—		5,287		8,683		26,784		35,467		(7,795	)		27,672	1998	2016
MAA Park Mesa	Austin, TX		—			4,653		19,828		—		2,856		4,653		22,684		27,337		(6,262	)		21,075	1992	2016
MAA South Lamar	Austin, TX		—			20,542		74,093		—		30,082		20,542		104,175		124,717		(26,455	)		98,262	2011/17	2016
MAA West Austin	Austin, TX		—	(1)		7,805		48,843		—		5,334		7,805		54,177		61,982		(17,723	)		44,259	2009	2016
MAA Brushy Creek	Austin, TX		—			2,900		24,009		—		7,281		2,900		31,290		34,190		(18,127	)		16,063	2003	2006
MAA East Austin	Austin, TX		—			2,281		6,169		—		16,575		2,281		22,744		25,025		(11,718	)		13,307	1987	1995
MAA Barton Skyway	Austin, TX		—			1,405		12,769		—		14,224		1,405		26,993		28,398		(15,959	)		12,439	1977	1997
MAA Windmill Hill	Austin, TX		—			5,006		—		—		54,847		5,006		54,847		59,853		(4,498	)		55,355	2022	2020
MAA Shoal Creek	Bedford, TX		—			4,982		27,377		—		8,276		4,982		35,653		40,635		(15,206	)		25,429	1996	2013
MAA Willow Creek	Bedford, TX		—			3,109		33,488		—		12,731		3,109		46,219		49,328		(20,120	)		29,208	1996	2013
MAA Hebron	Carrollton, TX		—			4,231		42,237		—		3,397		4,231		45,634		49,865		(17,920	)		31,945	2011	2013
MAA Cedar park	Cedar Park, TX		—			7,232		56,640		—		8,629		7,232		65,269		72,501		(26,726	)		45,775	2005	2013
Grand Cypress	Cypress, TX		—			3,881		24,267		—		5,370		3,881		29,637		33,518		(9,612	)		23,906	2008	2013
MAA Medical District	Dallas, TX		—			4,050		33,779		—		5,583		4,050		39,362		43,412		(14,562	)		28,850	2007	2013
MAA Highlands North	Dallas, TX		—			988		8,893		—		5,956		988		14,849		15,837		(10,657	)		5,180	1986	1998


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2023
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		—		8,327		2,730		30,567		33,297		(16,799	)		16,498	2000	2006
MAA Lowes Farm	Dallas, TX		—			5,016		41,091		—		5,279		5,016		46,370		51,386		(19,418	)		31,968	2008	2011
MAA Frisco Bridges	Dallas, TX		—			14,845		66,571		—		66,810		14,845		133,381		148,226		(37,021	)		111,205	2009/13/21	2013
MAA McKinney Avenue	Dallas, TX		—			34,765		40,127		—		13,732		34,765		53,859		88,624		(16,057	)		72,567	1993/96	2016
MAA Worthington	Dallas, TX		—			13,713		43,268		—		12,005		13,713		55,273		68,986		(14,685	)		54,301	1993/2008	2016
MAA Abbey	Dallas, TX		—			2,711		4,369		—		1,226		2,711		5,595		8,306		(1,560	)		6,746	1996	2016
MAA Addison Circle	Dallas, TX		—			12,308		189,419		—		32,293		12,308		221,712		234,020		(62,482	)		171,538	1998-2000	2016
MAA North Hall	Dallas, TX		—			13,030		14,383		—		5,174		13,030		19,557		32,587		(6,375	)		26,212	1998	2016
MAA Eastside	Dallas, TX		—			7,134		58,095		—		6,196		7,134		64,291		71,425		(19,193	)		52,232	2008	2016
MAA Gallery	Dallas, TX		—			4,391		7,910		—		3,301		4,391		11,211		15,602		(3,366	)		12,236	1999	2016
MAA Heights	Dallas, TX		—			26,245		37,922		—		8,001		26,245		45,923		72,168		(12,894	)		59,274	1998-1999/ 2009	2016
MAA Katy Trail	Dallas, TX		—			10,333		32,456		—		3,220		10,333		35,676		46,009		(9,323	)		36,686	2010	2016
MAA Legacy	Dallas, TX		—	(1)		6,575		55,277		—		11,212		6,575		66,489		73,064		(17,727	)		55,337	2000	2016
MAA Meridian	Dallas, TX		—			8,780		13,654		—		1,973		8,780		15,627		24,407		(4,626	)		19,781	1991	2016
MAA Uptown Village	Dallas, TX		—			34,974		33,213		—		11,726		34,974		44,939		79,913		(13,865	)		66,048	1995-2000	2016
MAA Watermark	Dallas, TX		—			960		14,438		—		4,957		960		19,395		20,355		(11,830	)		8,525	2002	2004
MAA Bear Creek	Euless, TX		—			6,453		30,048		—		8,795		6,453		38,843		45,296		(16,687	)		28,609	1998	2013
MAA Fairview	Fairview, TX		—			2,171		35,077		—		3,224		2,171		38,301		40,472		(14,601	)		25,871	2012	2013
MAA Starwood	Frisco, TX		—			3,240		26,069		—		3,881		3,240		29,950		33,190		(13,543	)		19,647	2009	2010
MAA Grapevine	Grapevine, TX		—			2,351		29,757		—		11,039		2,351		40,796		43,147		(16,685	)		26,462	1985/86	2013
Greenwood Forest	Houston, TX		—			3,465		23,482		—		4,117		3,465		27,599		31,064		(10,039	)		21,025	1994	2013
Legacy Pines	Houston, TX		—			2,142		19,066		—		6,250		2,142		25,316		27,458		(16,293	)		11,165	1999	2003
MAA Energy Park	Houston, TX		—			2,061		15,830		—		5,594		2,061		21,424		23,485		(11,544	)		11,941	1996	2007
Post 510	Houston, TX		—			7,226		33,366		—		3,060		7,226		36,426		43,652		(10,659	)		32,993	2014	2016
Post at Afton Oaks	Houston, TX		—			11,503		65,469		—		5,380		11,503		70,849		82,352		(22,518	)		59,834	2017	2016
Post Midtown Square	Houston, TX		—			19,038		89,570		—		11,319		19,038		100,889		119,927		(29,230	)		90,697	1999/2013	2016
Ranchstone	Houston, TX		—			1,480		14,807		—		5,292		1,480		20,099		21,579		(10,809	)		10,770	1996	2007
Reserve at Woodwind Lakes	Houston, TX		—			1,968		19,928		—		7,149		1,968		27,077		29,045		(15,134	)		13,911	1999	2006
Retreat at Vintage Park	Houston, TX		—	(1)		8,211		40,352		—		4,279		8,211		44,631		52,842		(10,760	)		42,082	2014	2014
MAA Greater Heights	Houston, TX		—	(2)		13,107		62,764		—		4,657		13,107		67,421		80,528		(14,225	)		66,303	2015	2016
MAA Park Point	Houston, TX		—			9,031		—		—		46,024		9,031		46,024		55,055		(5,533	)		49,522	N/A	2018
Cascade at Fall Creek	Humble, TX		—			5,985		40,011		—		7,183		5,985		47,194		53,179		(24,462	)		28,717	2007	2007
MAA Bella Casita	Irving, TX		—			2,521		26,432		—		6,490		2,521		32,922		35,443		(14,091	)		21,352	2007	2010
MAA Valley Ranch	Irving, TX		—			5,072		37,397		—		17,925		5,072		55,322		60,394		(25,238	)		35,156	1997	2013
MAA Las Colinas	Irving, TX		—	(2)		3,902		40,691		—		5,363		3,902		46,054		49,956		(17,049	)		32,907	2006	2013
MAA Remington Hills	Irving, TX		—			4,390		21,822		—		18,507		4,390		40,329		44,719		(16,237	)		28,482	1984	2013
MAA Times Square	McKinney, TX		—			1,130		28,058		—		7,673		1,130		35,731		36,861		(16,342	)		20,519	2009	2010
MAA Stonebridge Ranch	McKinney, TX		—			4,034		19,528		—		5,773		4,034		25,301		29,335		(8,528	)		20,807	2000	2013
MAA Market Center	Plano, TX		—			16,894		110,705		—		8,587		16,894		119,292		136,186		(28,139	)		108,047	2013/15	2014
MAA Highwood	Plano, TX		—			864		7,783		—		4,707		864		12,490		13,354		(9,237	)		4,117	1983	1998
MAA Los Rios	Plano, TX		—			3,273		28,823		—		10,213		3,273		39,036		42,309		(24,904	)		17,405	2000	2003
MAA Boulder Ridge	Roanoke, TX		—			3,382		26,930		—		10,672		3,382		37,602		40,984		(21,698	)		19,286	1999	2005
MAA Copper Ridge	Roanoke, TX		—			4,166		—		—		49,433		4,166		49,433		53,599		(14,469	)		39,130	2009/20	2008
MAA Ashton Oaks	Round Rock, TX		—			5,511		36,241		—		5,051		5,511		41,292		46,803		(17,151	)		29,652	2009	2013
MAA Round Rock	Round Rock, TX		—			4,691		45,379		—		5,369		4,691		50,748		55,439		(20,685	)		34,754	1997	2013
MAA Sierra Vista	Round Rock, TX		—			2,561		16,488		—		6,726		2,561		23,214		25,775		(10,319	)		15,456	1999	2013
Alamo Ranch	San Antonio, TX		—			2,380		26,982		—		5,284		2,380		32,266		34,646		(14,316	)		20,330	2009	2011
Bulverde Oaks	San Antonio, TX		—			4,257		36,759		—		3,732		4,257		40,491		44,748		(10,164	)		34,584	2014	2014
Haven at Blanco	San Antonio, TX		—			5,411		45,958		—		6,368		5,411		52,326		57,737		(20,734	)		37,003	2010	2012
Stone Ranch at Westover Hills	San Antonio, TX		—			4,000		24,992		—		5,234		4,000		30,226		34,226		(14,503	)		19,723	2009	2009
Cypresswood Court	Spring, TX		—			576		5,190		—		6,831		576		12,021		12,597		(7,635	)		4,962	1984	1994
Villages at Kirkwood	Stafford, TX		—			1,918		15,846		—		6,030		1,918		21,876		23,794		(12,877	)		10,917	1996	2004
Green Tree Place	Woodlands, TX		—			539		4,850		—		6,051		539		10,901		11,440		(7,545	)		3,895	1984	1994
Stonefield Commons	Charlottesville, VA		—			11,044		36,689		—		2,704		11,044		39,393		50,437		(10,220	)		40,217	2013	2014
Adalay Bay	Chesapeake, VA		—			5,280		31,341		—		5,116		5,280		36,457		41,737		(15,394	)		26,343	2002	2012
Apartments at Cobblestone Square	Fredericksburg, VA		—			10,990		48,696		—		5,112		10,990		53,808		64,798		(15,688	)		49,110	2012	2016
Colonial Village at Greenbrier	Fredericksburg, VA		—			4,842		21,677		—		6,154		4,842		27,831		32,673		(10,386	)		22,287	1980	2013
Seasons at Celebrate Virginia	Fredericksburg, VA		—			14,490		32,083		—		43,922		14,490		76,005		90,495		(25,117	)		65,378	2011	2011
Station Square at Cosner's Corner	Fredericksburg, VA		—			12,825		51,078		—		4,233		12,825		55,311		68,136		(14,259	)		53,877	2013/16	2013
Colonial Village at Hampton Glen	Glen Allen, VA		—			4,851		21,678		—		5,298		4,851		26,976		31,827		(11,420	)		20,407	1986	2013
Colonial Village at West End	Glen Allen, VA		—			4,661		18,908		—		4,262		4,661		23,170		27,831		(9,723	)		18,108	1987	2013
Township in Hampton Woods	Hampton, VA		—			1,509		8,189		—		11,521		1,509		19,710		21,219		(13,560	)		7,659	1987	1995
Colonial Village at Waterford	Midlothian, VA		—			6,733		29,221		—		7,556		6,733		36,777		43,510		(15,891	)		27,619	1989	2013
Radius	Newport News, VA		—			5,040		36,481		—		8,156		5,040		44,637		49,677		(11,015	)		38,662	2012	2015
Ashley Park	Richmond, VA		—			4,761		13,365		—		4,590		4,761		17,955		22,716		(8,328	)		14,388	1988	2013
Colonial Village at Chase Gayton	Richmond, VA		—			6,021		29,004		—		7,403		6,021		36,407		42,428		(15,129	)		27,299	1984	2013
Hamptons at Hunton Park	Richmond, VA		—			4,930		35,598		—		7,998		4,930		43,596		48,526		(18,611	)		29,915	2003	2011
Retreat at West Creek	Richmond, VA		—			10,112		36,136		—		16,358		10,112		52,494		62,606		(11,795	)		50,811	2015/17	2015
Post Carlyle Square	Washington D.C.		—			29,728		154,309		—		6,700		29,728		161,009		190,737		(43,358	)		147,379	2006/13	2016
Post Corners at Trinity Center	Washington D.C.		—			7,664		70,012		—		6,007		7,664		76,019		83,683		(20,197	)		63,486	1996	2016


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2023
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		—		7,234		17,524		66,130		83,654		(18,422	)		65,232	2003	2016
MAA National Landing	Washington D.C.		—			30,452		125,091		—		18,673		30,452		143,764		174,216		(40,178	)		134,038	2001	2016
Post Tysons Corner	Washington D.C.		—			30,776		82,021		—		13,144		30,776		95,165		125,941		(25,326	)		100,615	1990	2016
Total Residential Properties			—			1,903,416		10,093,055		—		3,189,542		1,903,416		13,282,597		15,186,013		(4,773,253	)		10,412,760
220 Riverside Retail	Jacksonville, FL		—			119		2,902		—		1,060		119		3,962		4,081		(612	)		3,469	2015	2019
MAA Parkside Retail	Orlando, FL		—			742		11,924		—		1,564		742		13,488		14,230		(3,670	)		10,560	1999	2016
MAA Robinson Retail	Orlando, FL		—			—		563		—		248		—		811		811		(48	)		763	2021	2018
MAA Harbour Island Retail	Tampa, FL		—			386		4,315		—		403		386		4,718		5,104		(1,226	)		3,878	1997	2016
MAA Rocky Point Retail	Tampa, FL		—			34		51		—		423		34		474		508		(305	)		203	1994-1996	2016
MAA SoHo Square Retail	Tampa, FL		—	(1)		268		4,033		—		51		268		4,084		4,352		(1,550	)		2,802	2012	2016
MAA Buckhead Retail	Atlanta, GA		—			867		3,465		—		1,008		867		4,473		5,340		(1,592	)		3,748	2012	2012
MAA Piedmont Park Retail	Atlanta, GA		—			426		1,089		—		33		426		1,122		1,548		(310	)		1,238	1999	2016
MAA Riverside Office	Atlanta, GA		—			9,680		22,108		—		14,179		9,680		36,287		45,967		(10,872	)		35,095	1996	2016
MAA Riverside Retail	Atlanta, GA		—			889		2,340		—		2,698		889		5,038		5,927		(1,362	)		4,565	1996	2016
Post Training Facility	Atlanta, GA		—			1,092		968		—		33		1,092		1,001		2,093		(565	)		1,528	1999	2016
MAA West Village Retail	Smyrna, GA		—			3,408		8,446		—		2,001		3,408		10,447		13,855		(3,255	)		10,600	2012	2014
The Denton Retail	Kansas City, MO		—			700		4,439		—		1,377		700		5,816		6,516		(1,443	)		5,073	2014	2015
MAA 1225 Retail	Charlotte, NC		—			52		199		—		249		52		448		500		(209	)		291	2010	2010
MAA Gateway Retail	Charlotte, NC		—			318		1,430		—		91		318		1,521		1,839		(423	)		1,416	2000	2016
MAA South Line Retail	Charlotte, NC		—			470		1,289		—		291		470		1,580		2,050		(430	)		1,620	2009	2016
MAA Uptown Retail	Charlotte, NC		—			319		1,144		—		25		319		1,169		1,488		(317	)		1,171	1998	2016
MAA Leasing Center	Charlotte, NC		—			1,290		1,488		—		193		1,290		1,681		2,971		(472	)		2,499	1998	2016
MAA Hue Retail	Raleigh, NC		—			—		2,129		—		100		—		2,229		2,229		(412	)		1,817	2010	2018
MAA Wade Park Retail	Raleigh, NC		—			317		4,552		—		166		317		4,718		5,035		(1,665	)		3,370	2011	2016
The Greene Retail	Greenville, SC		—			—		—		—		—		—		—		—		—			—	2019	2019
MAA South Lamar Retail	Austin, TX		—			421		3,072		—		689		421		3,761		4,182		(971	)		3,211	2011	2016
MAA Frisco Bridges Retail	Dallas, TX		—			779		6,593		—		755		779		7,348		8,127		(2,219	)		5,908	2009	2016
MAA McKinney Avenue Retail	Dallas, TX		—			1,581		5,982		—		475		1,581		6,457		8,038		(1,697	)		6,341	1996	2016
MAA Worthington Retail	Dallas, TX		—			108		495		—		422		108		917		1,025		(259	)		766	1993/2008	2016
MAA Addison Circle Office	Dallas, TX		—			1,395		4,280		—		2,262		1,395		6,542		7,937		(1,985	)		5,952	1998-2000	2016
MAA Addison Circle Retail	Dallas, TX		—			448		21,386		—		3,302		448		24,688		25,136		(7,100	)		18,036	1998-2000	2016
MAA North Hall Retail	Dallas, TX		—			347		716		—		141		347		857		1,204		(270	)		934	1998	2016
MAA Eastside Retail	Dallas, TX		—			682		10,645		—		774		682		11,419		12,101		(3,083	)		9,018	2008	2016
MAA Heights Retail	Dallas, TX		—			1,065		3,314		—		924		1,065		4,238		5,303		(1,087	)		4,216	1997	2016
MAA Katy Trail Retail	Dallas, TX		—			465		4,883		—		101		465		4,984		5,449		(1,284	)		4,165	2010	2016
MAA Legacy Retail	Dallas, TX		—	(1)		150		3,334		—		449		150		3,783		3,933		(992	)		2,941	2000	2016
Post Midtown Square Retail	Houston, TX		—			1,322		16,005		—		602		1,322		16,607		17,929		(4,480	)		13,449	1999/2013	2016
Rise Condo Devel LP Retail	Houston, TX		—			—		2,280		—		68		—		2,348		2,348		(639	)		1,709	1999/2013	2016
MAA Bella Casita Retail	Irving, TX		—			46		186		—		221		46		407		453		(169	)		284	2007	2010
MAA Times Square Retail	McKinney, TX		—			253		1,310		—		5,996		253		7,306		7,559		(1,764	)		5,795	2009	2010
Post Carlyle Square Retail	Washington D.C.		—			1,048		7,930		—		283		1,048		8,213		9,261		(2,186	)		7,075	2006/16	2016
Total Retail / Commercial Properties			—			31,487		171,285		—		43,657		31,487		214,942		246,429		(60,923	)		185,506
Novel Daybreak	Salt Lake City, UT		—			7,025		—		—		84,602		7,025		84,602		91,627		(1,457	)		90,170	N/A	2021
Novel Val Vista	Phoenix, AZ		—			7,285		—		—		63,944		7,285		63,944		71,229		—			71,229	N/A	2020
MAA Milepost 35	Denver, CO		—			12,572		—		—		83,058		12,572		83,058		95,630		—			95,630	N/A	2022
MAA Nixie	Raleigh, NC		—			9,880		—		—		41,206		9,880		41,206		51,086		—			51,086	N/A	2022
MAA Breakwater	Tampa, FL		—			23,514		—		—		72,435		23,514		72,435		95,949		—			95,949	N/A	2022
Total Active Development Properties			—			60,276		—		—		345,245		60,276		345,245		405,521		(1,457	)		404,064
Total Properties			—			1,995,179		10,264,340		—		3,578,444		1,995,179		13,842,784		15,837,963		(4,835,633	)		11,002,330
Total Land Held for Future Developments			—			73,861		—		—		—		73,861		—		73,861		—			73,861	N/A	Various
Total Properties in Predevelopment			—			36,224		—		—		17,219		36,224		17,219		53,443		—			53,443	N/A	Various
Corporate Properties			—			—		41,351		—		—		—		41,351		41,351		(29,057	)		12,294	Various	Various
Total Other			—			110,085		41,351		—		17,219		110,085		58,570		168,655		(29,057	)		139,598
Total Real Estate Assets, net of Real Estate Joint Venture		$	—		$	2,105,264	$	10,305,691	$	—	$	3,595,663	$	2,105,264	$	13,901,354	$	16,006,618	$	(4,864,690	)	$	11,141,928

(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 $12.7 billion (unaudited) as of December 31, 2023. 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, 2023, 2022 and 2021

The following table summarizes the Company’s changes in real estate investments and accumulated depreciation for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands):


	2023			2022			2021
Real estate investments:
Balance at beginning of year	$	15,246,658		$	14,704,237		$	14,338,895
Acquisitions (1)		223,735			272,342			44,086
Less: fair market value of leases included in acquisitions		(2,050	)		(1,505	)		—
Improvement and development		546,237			469,661			506,775
Disposition of real estate assets (2)		(7,962	)		(198,077	)		(185,519	)
Balance at end of year	$	16,006,618		$	15,246,658		$	14,704,237
Accumulated depreciation:
Balance at beginning of year	$	4,302,747		$	3,848,161		$	3,415,105
Depreciation		562,760			540,708			531,848
Disposition of real estate assets (2)		(817	)		(86,122	)		(98,792	)
Balance at end of year	$	4,864,690		$	4,302,747		$	3,848,161

(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.