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Mid-America Apartment Communities Inc. Message Board

  • joea41 joea41 Apr 7, 2002 10:14 PM Flag

    MR. Bolton: could you provide info on

    MAA's pipeline. How much (dollar wise) is completed and being leased up?...and how much is not yet completed? (dollar wise).

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    • I believe you can find the information you are looking for in our latest quarterly press release. Each quarter we provide detailed information for the remaining lease-up and construction projects. You can access this and other information you may find helpful on our website at www.maac.net . You can actually find it under �Press Releases� and under �Financial Reports�. The version under Financial Reports is in Acrobat Reader, which is more printer friendly.

      But to answer you question, at year-end (12/31/01) we had only one project still under construction, the final phase of Reserve a Dexter Lake in Memphis. As noted in the press release, we had a minimal amount of funding remaining (just over $500 thousand) and expect construction to be completed in the second quarter of 2002. To quote Mr. Bolton�s comments in the quarterly conference call, �We have no plans to start additional construction at this time and look forward to completing lease-up of this pipeline over the remainder of the year.� Also of note, the information shows that the three other remaining projects in lease-up were collectively over 80% leased as of year-end.

      You can also find the transcript to the quarterly earnings conference call (under Financial Reports), which provides a few other details you that may interest you.

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