MAA Announces Minor Damage from Hurricanes Helene and Milton

Rhea-AI Summary

Mid-America Apartment Communities, Inc. (NYSE: MAA) has reported minor damage to its communities in Florida, Georgia, Tennessee, and the Carolinas due to Hurricanes Helene and Milton. All communities remain operational, with only a number of apartment units taken off-line. Brad Hill, President and Chief Investment Officer, emphasized that ensuring the safety of residents and associates is their highest priority. He expressed relief that residents and associates at impacted communities are safe and that property damage is minimal. MAA's on-site associates and vendor partners prepared communities in advance and responded quickly post-storm, mitigating damage and allowing evacuated residents to return to their homes as soon as possible.

Positive

• All communities remain operational despite hurricane impacts
• Only minor damage reported across affected properties
• Swift response from on-site associates and vendors mitigated property damage
• number of apartment units taken off-line due to storms

Negative

• None.

GERMANTOWN, Tenn., Oct. 14, 2024 /PRNewswire/ -- Mid-America Apartment Communities, Inc., ("MAA") (NYSE: MAA) today announced that the Company sustained only minor damage to its communities located in Florida, Georgia, Tennessee and the Carolinas as a result of Hurricanes Helene and Milton. All communities remain operational, with only a limited number of apartment units taken off-line due to the storms.

Brad Hill, President and Chief Investment Officer, said, "Our thoughts and prayers are with all of those impacted by the storms. Ensuring the safety of our residents and associates is our highest priority. We are pleased to report our residents and associates at our communities impacted by Hurricanes Helene and Milton are safe and the damage to our communities is minor. Our on-site associates and vendor partners prepared our communities in advance of the storms and responded swiftly once the storms passed mitigating property damage and allowing our residents who were evacuated to access their homes as soon as possible."

About MAA
MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.  For further details, please refer to www.maac.com or contact Investor Relations at investor.relations@maac.com.

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SOURCE MAA

FAQ

How did Hurricanes Helene and Milton affect MAA's properties?

MAA reported only minor damage to its communities in Florida, Georgia, Tennessee, and the Carolinas. All communities remain operational, with only a number of apartment units taken off-line due to the storms.

What actions did MAA take to prepare for and respond to Hurricanes Helene and Milton?

MAA's on-site associates and vendor partners prepared communities in advance of the storms and responded swiftly once they passed. This preparation and quick response helped mitigate property damage and allowed evacuated residents to return to their homes as soon as possible.

Were any MAA residents or associates harmed during Hurricanes Helene and Milton?

According to the press release, all residents and associates at MAA's impacted communities are safe. Ensuring their safety was stated as the company's highest priority.

How many MAA apartment units were affected by Hurricanes Helene and Milton?

The press release states that only a number of apartment units were taken off-line due to the storms, but does not provide a specific count.