Germantown, Tennessee, November 2nd / PRNewswire / -- Mid - America Apartment Communities, Inc. ("MAA") ("NYSE : MAA") Today, it was announced that its operating partnership Mid - America Apartments, L.P. ("MAALP") has completed the pricing for a $350 million issue of 5.350% preferred unsecured notes ("Notes") due on December 15, 2031, which were issued in accordance with their existing shelf registration statements.

The issue price of this instrument is 99.584% of the principal. It is expected that the issuance will be completed on November 12, 2026, but it is subject to meeting the usual delivery conditions.

MAALP intends to use the net proceeds from this issuance to repay the outstanding amounts under its revolving unsecured credit line and unsecured commercial paper program, as well as for general corporate purposes. This may include, but is not limited to, repaying other debts, and acquiring, developing, and rebuilding apartment communities.

J.P, Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc, U.S, Bancorp Investments, Inc, and Wells Fargo Securities serve as the joint bookkeepers for this issuance. LLC also participates in this role.

Bass, Berry & Sims PLC serve as legal advisors to MAALP, while Sidley Austin LLP acts as the legal advisor to the underwriter.

Registration statements related to these securities have been submitted to and are effective with the U.S. Securities and Exchange Commission (SEC). The issuance of such securities is only possible through supplementary prospectus documents and the accompanying prospectus. Investors may call J.P Morgan Securities LLC (collect, 1-212-834-4533), Mizuho Securities USA LLC (toll-free 1-866-271-7403), Truist Securities, Inc (toll-free 1-800-685-4786), U.S Bancorp Investments, Inc (toll-free 1-877-558-2607), or Wells Fargo Securities LLC (toll-free 1-800-645-3751) to obtain these documents. Alternatively, investors may also obtain these documents for free through EDGAR on the SEC's website at www.sec.gov when available.

This press release does not constitute an offer to sell securities, nor an invitation to purchase securities; such securities shall not be sold in any jurisdiction where such an offer, invitation, or sale would be illegal under the securities laws of that jurisdiction.

About MAA

MAA is a S&P 500 company and also a real estate investment trust (REIT). It focuses on providing shareholders with a full cycle of investment performance that exceeds the market by holding, managing, acquiring, developing, and rebuilding high-quality apartment communities. Its business is primarily located in the southeastern, southwestern, and Mid-Atlantic regions of the United States.

Forward-looking Statements

Some of the content of this press release contains forward-looking statements as defined in Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended), which relate to the company's expectations for future periods. The company intends to apply the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 to such forward-looking statements. Forward-looking statements do not discuss historical facts, but rather relate to future expectations, projections, intentions, assumptions, and beliefs. Such forward-looking statements include, but are not limited to, statements regarding the completion of the issuance of notes and the intended use of the funds raised. Words and phrases such as "expected," "anticipated," "intended," "planned," "believed," "seek," "estimated," "predicted," "project," "assume," "will," "may," "could," "should," "budget," "target," "outlook," "proforma," "opportunity," "guideline," and their variations, as well as similar expressions, are intended to identify such forward-looking statements. These forward-looking statements also include, but are not limited to, statements regarding expected operating performance and results, property stabilization, property acquisition and disposition activities, joint venture activities, development and renovation activities, and other capital expenditures, capital raising and financing activities, as well as rental pricing, revenue and expense growth, occupancy rates, interest rates, and other economic expectations. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors, as detailed below, which may cause the company's actual results, performance, achievements, or outcomes to differ significantly from the future results, performance, achievements, or outcomes expressed or implied in the forward-looking statements. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumptions may be inaccurate, and therefore the forward-looking statements in this press release may not prove to be accurate.In view of the significant uncertainties inherent in such forward-looking statements, the inclusion of such information should not be construed as an assertion that the results, performance, achievements, or outcomes described in these statements, or that the company's objectives and plans will necessarily be achieved, by the company or any other party.

The following factors, among others, may lead to significant differences between the actual results, performance, achievements, or outcomes of the company and those explicitly or implicitly stated in the forward-looking statements:

• Adverse market and economic conditions may have a negative impact on occupancy rates and rental income;
• Exposure to the inherent risks of investing in a single industry or sector;
• Adverse changes in the real estate market, including the level of future demand for multi-family residential units in the company's key markets, entry barriers to new markets the company may enter in the future, limitations on the company's ability to increase rents or collect rent, competition, the company's ability to identify and complete attractive acquisition or development projects under favorable conditions, the company's ability to complete any planned asset disposals in a timely manner at acceptable terms, and the company's ability to reinvest the proceeds from sales and obtain favorable returns;
• The development community failed to complete the project within the budget and timeline, or was simply unable to do so. It also failed to achieve rental targets as expected, as well as to produce the desired results.
• Unexpected capital requirements;
• Significant changes in operating costs due to inflation and other factors, including property taxes, utility fees, and insurance costs;
• Inability to obtain appropriate insurance at a reasonable rate, or the inability to obtain insurance at all; losses due to uninsured risks, deductibles, and retained amounts, or disaster losses that exceed the insured limit;
• Whether it is possible to obtain financing at favorable interest rates, or to refinance existing debts upon maturity;
• Interest rate or capitalization rate levels and their volatility, or the condition of the capital market;
• The impact of rating agency actions on the cost and availability of new debt financing;
• Adverse developments in the U.S. or global banking sector, including bank failures and liquidity concerns, could lead to continued or intensified economic and market volatility, as well as corresponding regulatory responses;
• Significant changes in the mortgage financing market or other factors may make single-family residences owned or rented, or other alternative housing options, more important competitive products;
• Whether they can continue to meet the complex requirements in order to maintain their REIT status for federal income tax purposes, whether MAALP can meet the requirements for maintaining the status of a partnership for federal income tax purposes, whether their taxable REIT subsidiaries can maintain the relevant status for federal income tax purposes, and whether the company and its subsidiaries can operate effectively under the restrictions imposed by these rules;
• Inability to attract and retain qualified employees;
• Liability for damages caused to the internet or that may be incurred due to the disruption of the company's or its service provider's information technology systems, or interruptions in business operations;
• Potential liability for environmental pollution;
• Changes in legal requirements imposed on the company, or the introduction of new legal requirements that have an adverse effect on the company's operations;
• Extreme weather and natural disasters;
• Outbreaks of disease and other public health events, as well as the measures taken by federal, state, and local government authorities in response to these events;
• The impact of climate change on a company's properties or operations;
• Legal proceedings or class actions;
• Reputational damage caused by negative news or the publication of social media regarding a company's actions or policies, regardless of whether there is any basis for such claims;
• Compliance costs related to numerous federal, state, and local laws and regulations; as well as
• Other risks identified in this press release and in the reports submitted by the company to the U.S. Securities and Exchange Commission or other publicly disseminated documents.

New factors may also emerge from time to time, and they could have a significant adverse effect on the company's business. Apart from legal requirements, the company has no obligation to publicly update or revise the forward-looking statements in this press release to reflect events, circumstances, or anticipated changes that occur after the date of this press release.

SOURCE MAA