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Mid-America Apartment closes on Texas acquisition

MEMPHIS, Tenn. (AP) -- Mid-America Apartment Communities Inc. has closed on its acquisition of an apartment complex in Texas.

Financial terms were not disclosed.

The Haven at Blanco is in San Antonio and has 436 units.

"We are pleased to be expanding our footprint in the San Antonio market," Executive Vice President and Chief Financial Officer Al Campbell said in a statement Thursday.

Shares of Mid-America Apartment Communities, an apartment-focused real estate investment trust, fell 26 cents to $68.56 in afternoon trading.

The company current owns or has ownership interest in 49,264 apartment units.