Not trying to scare anyone, but I drive past the MAA office everyday going to work. Looks like they had a fire in the building Monday morning. The building is dark, windows out and fire trucks still parked in front of the building today. Won't hurt the business but I guess they get to test their offsite records retention policy. Good luck!
We did indeed have a fire at our corporate office on Sunday night. Most of the damage was contained to the Accounts Payable area...top floor (center), which then worked into the roof area.
Temporary offices up and running, off site storage of data fully intact, data storage and processing at each property (which is also stored off-site for each) is fully functional, phone system up and running....and of course, everything fully insured. Assets & revenues fully intact and dividend checks written off-site anyway!
Effective "operators" in the multifamily housing business must know how to handle fires...granted not usually at your corporate office....,but we have the recovery and re-build process down regardless.
Remember, like most corporate offices, all we do there is count the money and spend it. We make our money at the properties....which is where I and most of the management team spend the majority of our time.
Great news, thanks for the update. This morning I noticed that the parking lot was full of cars again, so I assumed everyone was back at work, although the building still looked dark. From the outside the damage looks worse in the middle floors due to broken windows. It was really cold Sunday night, funny how we have fires in Memphis on the coldest nights, I guess it is because of the strain on the heatinging systems. My wife has held MAA shares for many years and we recently added shares, so keep up the good work! BTW, your properties in town look first class.