Mid-America partnership prices $350M senior notes

MAALP expects to close the notes offering on November 12, 2026, subject to customary closing conditions, and intends to use net proceeds for debt repayment and corporate purposes.

Available on EDGAR 11/02/2026 - 05:31 PM EST Accepted by SEC EDGAR 11/02/2026 - 05:29 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Mid-America Apartment Communities, Inc. (MAA) announced that its operating partnership, Mid-America Apartments, L.P. (MAALP), priced $350,000,000 aggregate principal amount of 5.350% senior unsecured notes due December 15, 2031. The notes were priced at 99.584% of principal under MAALP’s existing shelf registration statement.

MAALP entered into an underwriting agreement with J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the underwriters. Closing is expected on November 12, 2026, subject to the satisfaction of customary closing conditions. MAALP intends to use net proceeds to repay amounts outstanding under its unsecured revolving credit facility and unsecured commercial paper program, and for general corporate purposes, which may include repayment of other debt and the acquisition, development and redevelopment of apartment communities.

The registration statement relating to the notes has become effective. The offering will be made only through a prospectus supplement and accompanying prospectus.

8-K Event Classification

3 items: 7.01, 8.01, 9.01

3 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Aggregate principal amount: $350,000,000 Interest rate: 5.350% Offering price: 99.584% of principal amount +2 more

5 metrics

Aggregate principal amount $350,000,000 MAALP senior unsecured notes offering

Interest rate 5.350% Senior unsecured notes

Offering price 99.584% of principal amount Price of the notes

Maturity date December 15, 2031 Senior unsecured notes

Expected closing November 12, 2026 Subject to the satisfaction of customary closing conditions

Key Terms

senior unsecured notes, aggregate principal amount, underwriting agreement, unsecured revolving credit facility, +1 more

5 terms

senior unsecured notes financial

"5.350% senior unsecured notes due December 15, 2031"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

aggregate principal amount financial

"$350,000,000 aggregate principal amount"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

underwriting agreement financial

"entered into an underwriting agreement"

An underwriting agreement is a contract where a company selling new stocks or bonds hires financial firms to buy those securities and resell them to investors. It matters because the agreement sets the offering price, number of securities, fees and which party bears the risk if sales fall short—think of it as a promise that the sale will happen and a roadmap investors can use to understand how the new securities reach the market.

unsecured revolving credit facility financial

"repay amounts outstanding under its unsecured revolving credit facility"

A revolving credit facility is a line of borrowing that a company can draw from, repay, and draw again up to a set limit; “unsecured” means the loans are not backed by specific assets as collateral. Investors care because it acts like a corporate credit card—giving short‑term cash flexibility to cover operations or unexpected needs—while signaling lenders’ confidence and affecting interest costs, default risk, and the company’s financial stability.

commercial paper program financial

"its unsecured commercial paper program"

A commercial paper program is a formal way a company issues very short-term IOUs to raise quick cash, typically for days to months, without using a bank loan. Investors care because it shows how the company manages short-term funding and how trustworthy it appears—like watching whether someone keeps using and repaying a credit card; frequent use or higher costs can signal cash strain, while smooth issuance suggests healthy liquidity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the size and terms of MAA's operating partnership's notes offering?

MAALP priced an offering of $350,000,000 aggregate principal amount of 5.350% senior unsecured notes due December 15, 2031. The notes were priced at 99.584% of principal.

When is MAA's operating partnership's notes offering expected to close, and how will it use the proceeds?

Closing is expected on November 12, 2026, subject to the satisfaction of customary closing conditions. MAALP intends to use net proceeds to repay amounts outstanding under its unsecured revolving credit facility and unsecured commercial paper program, and for general corporate purposes, which may include repayment of other debt and the acquisition, development and redevelopment of apartment communities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 2, 2026

MID-AMERICA APARTMENT COMMUNITIES, INC.

(Exact name of registrant as specified in its charter)

Tennessee	001-12762	62-1543819
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

MID-AMERICA APARTMENTS, L.P.

(Exact name of registrant as specified in its charter)

Tennessee	333-190028-01	62-1543816
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

6815 Poplar Avenue, Suite 500
Germantown, Tennessee	38138
(Address of Principal Executive Offices)	(Zip Code)

(901) 682-6600

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.)	MAA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

On November 2, 2026, Mid-America Apartment Communities, Inc. issued a press release. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) is being “furnished” and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 8.01. Other Events.

On November 2, 2026, Mid-America Apartments, L.P. (the “Operating Partnership”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters listed on Schedule 1 attached to the Underwriting Agreement, in connection with the public offering by the Operating Partnership of $350,000,000 aggregate principal amount of the Operating Partnership’s 5.350% Senior Notes due 2031.

The foregoing description of the Underwriting Agreement is qualified in its entirety by the full text of the Underwriting Agreement, which is being filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
1.1		Underwriting Agreement, dated November 2, 2026, by and among Mid-America Apartments, L.P. and J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc., U.S. Bancorp Investments. Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters listed on Schedule 1 thereto
99.1		Press Release, dated November 2, 2026, issued by Mid-America Apartment Communities, Inc.
104		Cover Page Interactive Data File (formatted in Inline eXtensible Business Reporting Language)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			MID-AMERICA APARTMENT COMMUNITIES, INC.
Date:	November 2, 2026		/s/ A. Clay Holder
			A. Clay Holder
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

			MID-AMERICA APARTMENTS, L.P.
			By: Mid-America Apartment Communities, Inc., its general partner
Date:	November 2, 2026		/s/ A. Clay Holder
			A. Clay Holder
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

Exhibit 99.1

PRESS RELEASE

MAA Announces Pricing of Senior Unsecured Notes Offering

GERMANTOWN, Tenn., November 2, 2026 / PRNewswire / – Mid-America Apartment Communities, Inc., (“MAA”) (NYSE: MAA) today announced that its operating partnership, Mid-America Apartments, L.P. (“MAALP”), priced a $350,000,000 offering of MAALP's 5.350% senior unsecured notes due December 15, 2031 (the “Notes”) under its existing shelf registration statement. The Notes were priced at 99.584% of the principal amount. The closing of the offering is expected to occur on November 12, 2026, subject to the satisfaction of customary closing conditions.

MAALP intends to use net proceeds from the offering to repay amounts outstanding from time to time under its unsecured revolving credit facility and its unsecured commercial paper program, and for general corporate purposes, which may include, without limitation, the repayment of other debt and the acquisition, development and redevelopment of apartment communities.

J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC were the joint book-running managers for the offering.

Bass, Berry & Sims PLC is serving as legal counsel to MAALP, and Sidley Austin LLP is serving as legal counsel to the underwriters.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has become effective. The offering of these securities will be made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by calling J.P. Morgan Securities LLC collect at 1-212-834-4533, Mizuho Securities USA LLC toll-free at 1-866-271-7403, Truist Securities, Inc. toll-free at 1-800-685-4786, U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751. Alternatively, investors may obtain these documents, when available, for free by visiting EDGAR on the Securities and Exchange Commission's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation, or sale would be unlawful under the securities laws of any such jurisdiction.

About MAA

MAA, an S&P 500 company, is a real estate investment trust (“REIT”) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.

Forward-Looking Statements

Sections of this release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to our expectations for future periods. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not discuss historical fact, but instead are statements related to expectations, projections, intentions, assumptions and beliefs regarding

the future. Such forward-looking statements include, without limitation, statements related to the closing of the Notes offering and the intended use of proceeds. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “forecasts,” “projects,” “assumes,” “will,” “may,” “could,” “should,” “budget,” “target,” “outlook,” “proforma,” “opportunity,” “guidance” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding expected operating performance and results, property stabilizations, property acquisition and disposition activity, joint venture activity, development and renovation activity and other capital expenditures, and capital raising and financing activity, as well as lease pricing, revenue and expense growth, occupancy, interest rate and other economic expectations. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, as described below, which may cause our actual results, performance, achievements or outcomes to be materially different from the future results, performance, achievements or outcomes expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore such forward-looking statements included in this release may not prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results, performance, achievements or outcomes described in such statements or our objectives and plans will be achieved.

The following factors, among others, could cause our actual results, performance, achievements or outcomes to differ materially from those expressed or implied in the forward-looking statements:

•adverse effects on occupancy levels and rental revenues due to unfavorable market and economic conditions;

•exposure to risks inherent in investments in a single industry and sector;

•adverse changes in real estate markets, including the extent of future demand for multifamily units in our significant markets, barriers of entry into new markets which we may seek to enter in the future, limitations on our ability to increase or collect rental rates, competition, our ability to identify and consummate attractive acquisitions or development projects on favorable terms, our ability to consummate any planned dispositions in a timely manner on acceptable terms, and our ability to reinvest sale proceeds in a manner that generates favorable returns;

•failure of development communities to be completed within budget and on a timely basis, if at all, to lease-up as anticipated or to achieve anticipated results;

•unexpected capital needs;

•material changes in operating costs, including real estate taxes, utilities and insurance costs, due to inflation and other factors;

•inability to obtain appropriate insurance coverage at reasonable rates, or at all, losses due to uninsured risks, deductibles and self-insured retentions, or losses from catastrophes in excess of coverage limits;

•ability to obtain financing at favorable rates, if at all, or refinance existing debt as it matures;

•level and volatility of interest or capitalization rates or capital market conditions;

•the effect of any rating agency actions on the cost and availability of new debt financing;

•the impact of adverse developments affecting the U.S. or global banking industry, including bank failures and liquidity concerns, which could cause continued or worsening economic and market volatility, and regulatory responses thereto;

•significant change in the mortgage financing market or other factors that would cause single-family housing or other alternative housing options, either as an owned or rental product, to become a more significant competitive product;

2

•ability to continue to satisfy complex rules in order to maintain our status as a REIT for federal income tax purposes, the ability of MAALP to satisfy the rules to maintain its status as a partnership for federal income tax purposes, the ability of our taxable REIT subsidiaries to maintain their status as such for federal income tax purposes, and our ability and the ability of our subsidiaries to operate effectively within the limitations imposed by these rules;

•inability to attract and retain qualified personnel;

•cyber liability or potential liability for breaches of our or our service providers' information technology systems, or business operations disruptions;

•potential liability for environmental contamination;

•changes in the legal requirements we are subject to, or the imposition of new legal requirements, that adversely affect our operations;

•extreme weather and natural disasters;

•disease outbreaks and other public health events, and measures that are taken by federal, state and local governmental authorities in response to such outbreaks and events;

•impact of climate change on our properties or operations;

•legal proceedings or class action lawsuits;

•impact of reputational harm caused by negative press or social media postings of our actions or policies, whether or not warranted;

•compliance costs associated with numerous federal, state and local laws and regulations; and

•other risks identified in this release and in reports we file with the SEC or in other documents that we publicly disseminate.

New factors may also emerge from time to time that could have a material adverse effect on our business. Except as required by law, we undertake no obligation to publicly update or revise forward-looking statements contained in this release to reflect events, circumstances or changes in expectations after the date of this release.

3

Filing Exhibits & Attachments

3 documents

Press Releases

• EX-99.1 EX-99.1 32.3 KB

Other Documents

• EX-1.1 EX-1.1 350.3 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 59.1 KB