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
February 21, 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 Event.
The Company has released the following two press releases:
Memphis, TN January 16, 1997. Mid-America Apartment Communities,
Inc., (NYSE:MAA) Eric Bolton, President-COO announced today the
acquisition of the 348-unit Howell Commons apartment community in
Greenville, South Carolina for $13 million. The Company funded
the purchase through its unsecured line of credit.
The property is located in the northeast section of the town and
brings the total number of apartments owned by the Company in the
Greenville metro area to 1,100 units. The property was built in
two phases in 1986 and 1988; it is presently 87% occupied with an
average rent of $523.
Simon R.C. Wadsworth, Exec. VP-CFO announced that the Company has
increased its unsecured line of credit to $90 million from $65
million under the same general terms as previously existed.
AmSouth Bank continues to be the lead lender of a group of banks
which includes First Tennessee, Hibernia and Signet.
Mid-America Apartment Communities is a self-advised, self-managed
REIT which owns 19,862 units (including 234 under construction)
at 74 properties primarily in the southeast.
For further information, contact Simon R.C. Wadsworth at (901)
682-6600.
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MEMPHIS, TN: February 21, 1997. Mid-America Apartment Communities, Inc.
(MAA:NYSE) today announced the appointment of H. Eric Bolton, Jr. to a
newly created seat on the company's board of directors. Bolton, Chief
Operating Officer of the company, was promoted to President of the
Memphis-based real estate investment trust in December 1996.
The company also announced the promotion of Carole F. Owen to Vice-President
of Management Information Systems.
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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: February 21, 1997 /s/ Simon R.C. Wadsworth
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Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and Accounting Officer)
