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
April 11, 1997
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
(Former name or address, if changed since last report)
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Item 5. Other events.
Following notification of the New York Stock Exchange, the
following press release was released to the press on March 31,
1997.
Memphis, TN: March 31, 1997. Mid-America Apartment Communities,
Inc. (NYSE:MAA) announced today the purchase of the 240-unit
Villages of Hartland apartment community in Bowling Green, KY for
$4.8 million in cash and assumed debt of $5.5 million. The
property was built in 1996, and is presently 95% occupied with an
average monthly rent of $577. Villages of Hartland will be
managed out of MAA's Nashville regional office, and brings its
Kentucky presence to 1,178 apartments.
The Company also announced the acquisition of Westside Creek I,
a 142-unit apartment community located in Little Rock, AR for
$6.1 million, and the commencement of the management of Westside
Creek Phase II, an adjacent 166-unit apartment community. MAA has
a contract to purchase Westside Creek Phase II and intends to
complete this purchase within six months. Westside Creek Phase I
was built in 1984, and is presently 87% occupied with an average
rent of $646. This acquisition complements the three properties
MAA presently owns in Little Rock, and upon the purchase of
Westside Phase II will bring its total number of apartments in
that market to 1,014.
Mid-America Apartment Communities is a self-managed apartment
REIT which owns 20,394 units at 77 properties throughout the
southeastern U.S. and Texas.
For further information, contact Simon R. C. Wadsworth: 901-682-6600.
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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: April 11, 1997 /s/ Simon R.C. Wadsworth
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Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and Accounting Officer)
