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 26, 1998
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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
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(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 February 27, 1998.
MEMPHIS, TN: February 27, 1998. Mid-America Apartment
Communities, Inc. (NYSE:MAA) announced today the purchase on
February 26th of the 152-unit Van Mark Apartments in Huntsville,
AL for an all cash price of $5,140,000, funded by the company's
revolving line of credit with AmSouth Bank. The property was
built in 1987 and is currently 96% occupied with average rents
of $526 per month. The seller was GVH Development Co., an
Alabama Corporation. "The upside potential of this property is
excellent considering the surrounding demographics and the fact
we are buying well below replacement value. I'm very excited
about repositioning this asset", comments Drew Taylor, Regional
Vice-President for Mid-America.
Together with Phase II of The Paddock Club-Huntsville which is
targeted to be completed this summer, this acquisition will
bring MAA's total number of units owned in Huntsville to 544.
MAA now owns 33,572 apartment units in 13 states, including
2,660 under development.
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.
<PAGE>
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: March 13, 1998 /s/ Simon R.C. Wadsworth
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Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and Accounting Officer)
