MEMPHIS, TN - Mid-America Apartment Communities, Inc. (NYSE: MAA) announced today that it has completed the acquisition of Avondale at Kennesaw Farms, an upscale 288-unit apartment community located in the Nashville MSA.
Source: Mid-America Apartment Communities
Avondale at Kennesaw Farms was developed in 2009 and is the area's newest premier apartment community in the prestigious Kennesaw Farms Neighborhood. Property amenities include a luxurious clubhouse with a full entertainment kitchen and wireless internet cafe as well as a resort-style swimming pool. The apartment homes boast nine-foot ceilings, oversized mud rooms with washer and dryer, and stand-alone showers.
Commenting on the announcement, Al Campbell, EVP and CFO said, "We're excited to be adding this upscale community in a market with such a growing and diverse economic base."
The acquisition was funded by borrowings under existing credit facilities and common stock issuances through MAA's at-the-market program.
Mid-America is a self-administered, self-managed apartment-only real estate investment trust which currently owns or has ownership interest in 44,462 apartment units throughout the Sunbelt Region of the U.S.