Mid-America Buys Times Square at Craig Ranch

Mid-America Buys Times Square at Craig Ranch MEMPHIS, TN - Mid-America Apartment Communities, Inc. (NYSE: MAA) announced today that it has completed the acquisition of Times Square at Craig Ranch, an upscale 313-unit apartment community located in the Dallas, Texas MSA. Times Square at Craig Ranch is a new mid-rise multifamily and retail development that was completed in 2009 in the master planned community of Craig Ranch, located in the north Dallas sub-market of McKinney. The up-scale development includes ground floor retail space with controlled access and structured garage parking for residents. The up-scale property offers a number of high-end amenities including golf course views, large courtyards and a resort-style pool. The large apartment homes, averaging 1,024 square feet, feature gourmet kitchens with stainless steel appliances and granite countertops, soaking tubs and hardwood floors.

The property is located directly across the street from the PGA's new Tournament Players Club at Craig Ranch and is in close proximity to numerous private and public recreational facilities and health care facilities.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are excited to be adding a community in the McKinney suburb to our Dallas portfolio. This fast-growing suburb, recently named one of the top-10 Places to Move by Forbes.com, consistently draws accolades for its quality of life and has been listed on numerous national rankings as a best place to move, live or raise a family."

The acquisition, totaling $31.25 million, was acquired from the development lender and 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 45,321 apartment units throughout the Sunbelt Region of the U.S. For further details, please refer to our website at www.maac.net
Source: Mid-America Apartment Communities

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