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
May 29, 1998
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 announced on June 3, 1998.
MEMPHIS, TN: June 3, 1998. Mid-America Apartment Communities,
Inc. (NYSE:MAA) announced today the purchase of the 220-unit
Georgetown Grove Apartments in Savannah, Georgia. Built in 1997,
the property was purchased for $12,800,000 ($58,182 per unit and
$57 per sq. ft.) from LandSouth. This transaction involved the
assumption of a HUD 221(d)4 loan in the amount of $10,530,000 at
8.25% interest rate with the balance paid in cash. Georgetown
Grove is a new property and has been well received in the upscale
Georgetown submarket of Savannah.
For further information, contact Simon R. C. Wadsworth at
(901)682 6668, ext 104.
6584 Poplar Ave., Suite 340, Memphis, TN 38138, (901)682-6600
FAX: (901)682-6667.
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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: June 12, 1998 /s/ Simon R. C. Wadsworth
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Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and Accounting Officer)