UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
October 4 , 1996
Date of Report (Date of earliest event reported)
MID-AMERICA APARTMENT COMMUNITIES, INC.
(Exact Name of Registrant as Specified in Charter)
TENNESSEE 1-12762 62-1543819
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification Number)
6584 POPLAR AVENUE, SUITE 340
MEMPHIS, TENNESSEE 38138
(Address of principal executive offices)
(901) 682-6600
Registrant's telephone number, including area code
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(Former name or address, if changed since last report)
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Item 5. Other Events
Memphis, October 11, 1996: Mid-America Apartment Communities, Inc. (NYSE: MAA)
today announced via this Form 8-K some preliminary performance indicators for
its third quarter.
The Company achieved its third quarter occupancy goal of 98.1% at September
30, up from 96.9% for the same period a year ago. This represents a record
occupancy at its properties. Eric Bolton, Chief Operating Officer, said
"we believe that the achievement of our occupancy goal as planned for the
end of the Third Quarter will help us to maintain strong performance for the
balance of the year and for the first quarter of 1997. We expect Third
Quarter operating expenses will be higher than in the second quarter in part
due to seasonal effects and in part due to this increased leasing activity
(as they were for the equivalent periods in 1995), and that the full revenue
benefit will not be realized until this and ensuing quarters. We are pleased
with the success of our previously-announced plan".
Average Rate per unit for the total portfolio increased by 4.2% from the
same period a year ago.
THIS FORM 8-K CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS WITHIN THE MEANING
OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES
EXCHANGE ACT OF 1934 WHICH ARE INTENDED TO BE COVERED BY THE SAFE HARBORS
CREATED THEREBY. RISKS AND UNCERTAINTIES AFFECTING THESE STATEMENTS ARE
REFERENCED IN THE COMPANY'S PROSPECTUS FILED MAY 14, 1996 AND PROSPECTUS
SUPPLEMENT AND FORM 10-Q FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MID-AMERICA APARTMENT COMMUNITIES, INC.
Date: October 4, 1996 /s/ SIMON R.C. WADSWORTH
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Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and
Accounting Officer)
