MAA haspleted the acquisition of two new apartmentmunities in Florida, thepany said today: The Retreat at Magnolia Parke Apartments in Gainesville and Atlantic Crossing in Jacksonville.
The Retreat at Magnolia Parke Apartments is a 204-unit upscale developmentpleted in 2008; Atlantic Crossing, built in 2007-08, is a 200-unitmunity within walking distance of Jacksonville’s newest and largest retail and office parks.
The acquisitions, totaling $42.8 million, were funded by borrowings under existing credit facilities andmon stock issuances through MAA’s at-the-market program.
MAA is a Memphis-based real-estate investment trust that currently owns or has ownership interest in 47,992 apartment units across the country. Thepany was previously known as Mid-America Apartmentmunities.
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