MAALP Capital (Tables)

3 Months Ended

Mar. 31, 2025

M A A L P Capital [Abstract]

Summary of Changes in Total Capital and its Components

Changes in MAALP’s total capital and its components for the three months ended March 31, 2025 and 2024 were as follows (dollars in thousands):

	Mid-America Apartments, L.P. Unitholders’ Capital
	General Partner			Limited Partners			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2024	$	5,882,336		$	155,409		$	66,840		$	(7,064	)	$	27,894	$	6,125,415
Net income		180,751			4,733			922			—			—		186,406
Other comprehensive income - derivative instruments		—			—			—			429			—		429
Issuance of units		157			—			—			—			—		157
Units repurchased and retired		(1,302	)		—			—			—			—		(1,302	)
Exercise of unit options		38			—			—			—			—		38
General partner units issued in exchange for limited     partner units		759			(759	)		—			—			—		—
Redeemable units fair market value adjustment		(1,895	)		—			—			—			—		(1,895	)
Adjustment for limited partners’ capital at redemption value		(64	)		64			—			—			—		—
Amortization of unearned compensation		5,861			—			—			—			—		5,861
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.5150 per unit)		(177,157	)		(4,637	)		—			—			—		(181,794	)
Contribution from noncontrolling interest		—			—			—			—			1,058		1,058
CAPITAL BALANCE MARCH 31, 2025	$	5,889,484		$	154,810		$	66,840		$	(6,635	)	$	28,952	$	6,133,451

	Mid-America Apartments, L.P. Unitholders’ Capital
	General Partner			Limited Partners			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2023	$	6,036,154		$	163,128		$	66,840		$	(8,942	)	$	22,756	$	6,279,936
Net income		142,827			3,861			922			—			—		147,610
Other comprehensive income - derivative instruments		—			—			—			517			—		517
Issuance of units		93			—			—			—			—		93
Units repurchased and retired		(842	)		—			—			—			—		(842	)
General partner units issued in exchange for limited     partner units		594			(594	)		—			—			—		—
Redeemable units fair market value adjustment		402			—			—			—			—		402
Adjustment for limited partners’ capital at redemption value		(118	)		118			—			—			—		—
Amortization of unearned compensation		6,525			—			—			—			—		6,525
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.4700 per unit)		(171,620	)		(4,604	)		—			—			—		(176,224	)
Contribution from noncontrolling interest		—			—			—			—			276		276
CAPITAL BALANCE MARCH 31, 2024	$	6,014,015		$	161,909		$	66,840		$	(8,425	)	$	23,032	$	6,257,371