Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III Real Estate and Accumulated Depreciation

					Initial Cost				Costs Capitalized Subsequent to Acquisition					Gross Amount carried as of December 31, 2020
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land			Buildings and Fixtures		Land		Buildings and Fixtures		Total ⁽⁴⁾		Accumulated Depreciation ⁽⁵⁾			Net		Date of Construction	Date Acquired
Birchall at Ross Bridge	Birmingham, AL		—		$	2,640	$	28,842	$	—		$	2,720	$	2,640	$	31,562	$	34,202	$	(10,147	)	$	24,055	2009	2011
Colonial Grand at Riverchase Trails	Birmingham, AL		—			3,761		22,079		—			5,591		3,761		27,670		31,431		(9,480	)		21,951	2010	2013
Colonial Village at Trussville	Birmingham, AL		—			3,402		31,813		—			3,871		3,402		35,684		39,086		(11,493	)		27,593	1996/97	2013
Eagle Ridge	Birmingham, AL		—			851		7,667		—			4,473		851		12,140		12,991		(8,352	)		4,639	1986	1998
Colonial Grand at Traditions	Gulf Shores, AL		—			3,211		25,162		—			3,734		3,211		28,896		32,107		(9,766	)		22,341	2007	2013
Colonial Grand at Edgewater	Huntsville, AL		—			4,943		38,673		—			7,646		4,943		46,319		51,262		(13,207	)		38,055	1990	2013
Paddock Club at Providence	Huntsville, AL		—			909		10,152		830			14,419		1,739		24,571		26,310		(15,550	)		10,760	1993	1997
Colonial Grand at Madison	Madison, AL		—			3,601		28,934		—			2,107		3,601		31,041		34,642		(10,251	)		24,391	2000	2013
Cypress Village	Orange Beach, AL		—			1,290		12,238		—			2,436		1,290		14,674		15,964		(4,390	)		11,574	2008	2013
Colonial Grand at Liberty Park	Vestavia Hills, AL		—			3,922		30,977		—			7,021		3,922		37,998		41,920		(12,569	)		29,351	2000	2013
Sky View Ranch	Gilbert, AZ		—			2,668		14,577		—			2,947		2,668		17,524		20,192		(7,180	)		13,012	2007	2009
Colonial Grand at Inverness Commons	Mesa, AZ		—			4,219		26,255		—			3,412		4,219		29,667		33,886		(8,961	)		24,925	2002	2013
Edge at Lyon's Gate	Phoenix, AZ		—			7,901		27,182		—			3,049		7,901		30,231		38,132		(13,033	)		25,099	2007	2008
Residences at Fountainhead	Phoenix, AZ		—	⁽³⁾		12,212		56,705		—			2,049		12,212		58,754		70,966		(8,281	)		62,685	2015	2016
Talus Ranch	Phoenix, AZ		—			12,741		47,701		—			5,123		12,741		52,824		65,565		(24,977	)		40,588	2005	2006
Colonial Grand at OldTown Scottsdale	Scottsdale, AZ		—			7,820		51,627		—			5,764		7,820		57,391		65,211		(17,704	)		47,507	1994/95	2013
Colonial Grand at Scottsdale	Scottsdale, AZ		—			3,612		20,273		—			2,724		3,612		22,997		26,609		(7,312	)		19,297	1999	2013
SkySong	Scottsdale, AZ		—			—		55,748		—			2,885		—		58,633		58,633		(8,802	)		49,831	2014	2015
Post River North	Denver, CO		—			14,500		28,900		—			40,624		14,500		69,524		84,024		(7,424	)		76,600	2018	2016
Sync 36 I	Denver, CO		—			18,887		81,317		134			5,284		19,021		86,601		105,622		(6,805	)		98,817	2017	2018
Sync 36 II	Denver, CO		—			5,090		—		—			16,828		5,090		16,828		21,918		(1,145	)		20,773	2019	2018
Tiffany Oaks	Altamonte Springs, FL		—			1,024		9,219		—			5,444		1,024		14,663		15,687		(10,831	)		4,856	1985	1996
Colonial Grand at Lakewood Ranch	Bradenton, FL		—			2,980		40,230		—			5,362		2,980		45,592		48,572		(13,905	)		34,667	1999	2013
Indigo Point	Brandon, FL		—			1,167		10,500		—			3,905		1,167		14,405		15,572		(9,584	)		5,988	1989	2000
Paddock Club Brandon	Brandon, FL		—			2,896		26,111		—			6,939		2,896		33,050		35,946		(22,893	)		13,053	1998	1997
The Preserve at Coral Square	Coral Springs, FL		—			9,600		40,004		—			13,362		9,600		53,366		62,966		(28,019	)		34,947	1996	2004
Paddock Club Gainesville	Gainesville, FL		—			1,800		15,879		—			4,906		1,800		20,785		22,585		(11,415	)		11,170	1999	1998
The Retreat at Magnolia Parke	Gainesville, FL		—			2,040		16,338		—			1,358		2,040		17,696		19,736		(5,871	)		13,865	2009	2011
Colonial Grand at Heathrow	Heathrow, FL		—			4,101		35,684		—			4,475		4,101		40,159		44,260		(12,877	)		31,383	1997	2013
220 Riverside	Jacksonville, FL		—			2,381		35,514		—			8,337		2,381		43,851		46,232		(5,915	)		40,317	2015	2012
Atlantic Crossing	Jacksonville, FL		—			4,000		19,495		—			2,368		4,000		21,863		25,863		(7,382	)		18,481	2008	2011
Cooper's Hawk	Jacksonville, FL		—			854		7,500		—			3,742		854		11,242		12,096		(8,695	)		3,401	1987	1995
Hunter's Ridge at Deerwood	Jacksonville, FL		—			1,533		13,835		—			5,249		1,533		19,084		20,617		(13,650	)		6,967	1987	1997
Lakeside	Jacksonville, FL		—			1,430		12,883		—			8,284		1,430		21,167		22,597		(15,608	)		6,989	1985	1996
Lighthouse at Fleming Island	Jacksonville, FL		—			4,047		35,052		—			5,114		4,047		40,166		44,213		(23,102	)		21,111	2003	2003
Paddock Club Mandarin	Jacksonville, FL		—			1,411		14,967		—			3,288		1,411		18,255		19,666		(10,246	)		9,420	1998	1998
St. Augustine	Jacksonville, FL		—			2,857		6,475		—			18,575		2,857		25,050		27,907		(12,664	)		15,243	1987/ 2008	1995
Tattersall at Tapestry Park	Jacksonville, FL		—			6,417		36,069		—			1,957		6,417		38,026		44,443		(12,286	)		32,157	2009	2011
Woodhollow	Jacksonville, FL		—			1,686		15,179		(8	)		9,218		1,678		24,397		26,075		(18,279	)		7,796	1986	1997
Colonial Grand at Lake Mary	Lake Mary, FL		—	⁽¹⁾		6,346		41,539		—			24,883		6,346		66,422		72,768		(16,359	)		56,409	2012	2013
Colonial Grand at Town Park	Lake Mary, FL		—			5,742		56,562		—			6,304		5,742		62,866		68,608		(20,707	)		47,901	2005	2013
Colonial Grand at Town Park Reserve	Lake Mary, FL		—			3,481		10,311		—			510		3,481		10,821		14,302		(3,642	)		10,660	2004	2013
Colonial Grand at Heather Glen	Orlando, FL		—			4,662		56,988		—			7,365		4,662		64,353		69,015		(19,815	)		49,200	2000	2013
Colonial Grand at Randal Lakes	Orlando, FL		—			5,659		50,553		—			11,424		5,659		61,977		67,636		(10,951	)		56,685	2013	2013
Colonial Grand at Randal Lakes II	Orlando, FL		—			3,200		—		—			36,931		3,200		36,931		40,131		(3,784	)		36,347	2013	2013
Post Lake at Baldwin Park	Orlando, FL		—			18,101		144,200		—			4,101		18,101		148,301		166,402		(24,572	)		141,830	2011	2016
Post Lakeside	Orlando, FL		—			7,046		52,585		—			938		7,046		53,523		60,569		(8,100	)		52,469	2013	2016
Post Parkside	Orlando, FL		—			5,669		49,754		—			5,299		5,669		55,053		60,722		(9,093	)		51,629	1999	2016
Retreat at Lake Nona	Orlando, FL		—			7,880		41,175		—			6,266		7,880		47,441		55,321		(14,170	)		41,151	2006	2012
Park Crest at Innisbrook	Palm Harbor, FL		—			6,900		26,613		—			3,812		6,900		30,425		37,325		(12,866	)		24,459	2000	2009
The Club at Panama Beach	Panama City, FL		—			898		14,276		(5	)		4,626		893		18,902		19,795		(11,057	)		8,738	2000	1998
Colonial Village at Twin Lakes	Sanford, FL		—			3,091		47,793		—			3,062		3,091		50,855		53,946		(15,922	)		38,024	2005	2013
Paddock Club Tallahassee	Tallahassee, FL		—			530		4,805		950			14,466		1,480		19,271		20,751		(13,992	)		6,759	1992	1997
Verandas at Southwood	Tallahassee, FL		—			3,600		25,914		—			1,685		3,600		27,599		31,199		(6,423	)		24,776	2003	2011
Belmere	Tampa, FL		—			852		7,667		—			6,809		852		14,476		15,328		(10,529	)		4,799	1984	1994
Colonial Grand at Hampton Preserve	Tampa, FL		—			6,233		69,535		—			2,571		6,233		72,106		78,339		(20,819	)		57,520	2012	2013
Links at Carrollwood	Tampa, FL		—			817		7,355		110			5,840		927		13,195		14,122		(9,206	)		4,916	1980	1998
Post Bay at Rocky Point	Tampa, FL		—			4,541		28,381		—			1,989		4,541		30,370		34,911		(4,993	)		29,918	1997	2016
Post Harbour Place	Tampa, FL		—			16,296		116,193		—			11,137		16,296		127,330		143,626		(21,840	)		121,786	1997	2016
Post Hyde Park	Tampa, FL		—			16,891		95,259		—			7,030		16,891		102,289		119,180		(17,523	)		101,657	1994	2016
Post Rocky Point	Tampa, FL		—			35,260		153,102		—			13,405		35,260		166,507		201,767		(27,806	)		173,961	1994-1996	2016
Post Soho Square	Tampa, FL		—	⁽³⁾		5,190		56,296		—			898		5,190		57,194		62,384		(8,535	)		53,849	2012	2016
Village Oaks	Tampa, FL		—			2,738		19,055		153			2,913		2,891		21,968		24,859		(9,218	)		15,641	2005	2008
Colonial Grand at Seven Oaks	Wesley Chapel, FL		—			3,051		42,768		—			3,249		3,051		46,017		49,068		(13,919	)		35,149	2004	2013
Colonial Grand at Windermere	Windermere, FL		—	⁽³⁾		2,711		36,710		—			1,770		2,711		38,480		41,191		(11,101	)		30,090	2009	2013
MAA Briarcliff	Atlanta, GA		—			24,645		114,921		—			4,766		24,645		119,687		144,332		(19,281	)		125,051	1996	2016
MAA Brookhaven	Atlanta, GA		—			29,048		106,463		—			9,330		29,048		115,793		144,841		(20,071	)		124,770	1989/92	2016
MAA Brookwood	Atlanta, GA		—	⁽¹⁾		11,168		52,758		—			5,780		11,168		58,538		69,706		(17,638	)		52,068	2008	2012

					Initial Cost				Costs Capitalized Subsequent to Acquisition					Gross Amount carried as of December 31, 2020
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land			Buildings and Fixtures		Land		Buildings and Fixtures		Total ⁽⁴⁾		Accumulated Depreciation ⁽⁵⁾			Net		Date of Construction	Date Acquired
MAA Buckhead	Atlanta, GA		—			8,633		19,844		—			9,934		8,633		29,778		38,411		(9,589	)		28,822	2002	2012
MAA Centennial Park	Atlanta, GA		—			13,650		10,950		—			61,842		13,650		72,792		86,442		(5,984	)		80,458	2018	2016
MAA Chastain	Atlanta, GA		—			30,223		82,964		—			3,326		30,223		86,290		116,513		(13,710	)		102,803	1990	2016
MAA Dunwoody	Atlanta, GA		—			15,799		48,054		—			3,975		15,799		52,029		67,828		(8,616	)		59,212	1995	2016
MAA Gardens	Atlanta, GA		—			17,907		56,093		—			4,467		17,907		60,560		78,467		(10,531	)		67,936	1996	2016
MAA Glen	Atlanta, GA		—			13,878		51,079		—			5,291		13,878		56,370		70,248		(9,299	)		60,949	1996	2016
MAA Lenox	Atlanta, GA		—			15,440		73,278		—			3,777		15,440		77,055		92,495		(10,120	)		82,375	2006	2016
MAA Lenox II	Atlanta, GA		—			8,435		92,294		—			625		8,435		92,919		101,354		(20,112	)		81,242	2015	2016
MAA Midtown	Atlanta, GA		—			7,000		44,000		—			41,102		7,000		85,102		92,102		(7,958	)		84,144	2017	2016
MAA Oglethorpe	Atlanta, GA		—			6,875		31,441		(19	)		7,880		6,856		39,321		46,177		(15,280	)		30,897	1994	2008
MAA Peachtree Hills	Atlanta, GA		—			11,974		55,264		—			1,258		11,974		56,522		68,496		(8,689	)		59,807	1992-1994/2009	2016
MAA Piedmont Park	Atlanta, GA		—			11,025		34,277		—			2,288		11,025		36,565		47,590		(5,599	)		41,991	1999	2016
MAA Riverside	Atlanta, GA		—			23,765		89,369		—			8,746		23,765		98,115		121,880		(17,720	)		104,160	1996	2016
MAA Spring	Atlanta, GA		—			18,596		57,819		—			5,723		18,596		63,542		82,138		(11,169	)		70,969	1999	2016
MAA Stratford	Atlanta, GA		—			—		30,051		—			5,222		—		35,273		35,273		(5,938	)		29,335	1999	2016
MAA Berkeley Lake	Duluth, GA		—			1,960		15,707		—			2,714		1,960		18,421		20,381		(6,854	)		13,527	1998	2013
MAA McDaniel Farm	Duluth, GA		—			3,985		32,206		—			5,215		3,985		37,421		41,406		(13,550	)		27,856	1997	2013
MAA Pleasant Hill	Duluth, GA		—			6,753		32,202		—			6,576		6,753		38,778		45,531		(13,125	)		32,406	1996	2013
MAA Prescott	Duluth, GA		—	⁽²⁾		3,840		24,011		—			5,082		3,840		29,093		32,933		(15,852	)		17,081	2001	2004
MAA River Oaks	Duluth, GA		—			4,360		13,579		(11	)		3,249		4,349		16,828		21,177		(7,345	)		13,832	1992	2013
MAA River Place	Duluth, GA		—			2,059		19,158		—			3,563		2,059		22,721		24,780		(8,010	)		16,770	1994	2013
MAA Mount Vernon	Dunwoody, GA		—			6,861		23,748		—			4,124		6,861		27,872		34,733		(8,736	)		25,997	1997	2013
MAA Lake Lanier	Gainesville, GA		—	⁽²⁾		6,710		40,994		—			9,576		6,710		50,570		57,280		(27,073	)		30,207	1998/ 2001	2005
MAA Shiloh	Kennesaw, GA		—			4,864		45,893		—			6,089		4,864		51,982		56,846		(17,065	)		39,781	2002	2013
MAA Milstead	LaGrange, GA		—			3,100		29,240		—			2,899		3,100		32,139		35,239		(9,082	)		26,157	1998	2008
MAA Barrett Creek	Marietta, GA		—			5,661		26,186		—			3,564		5,661		29,750		35,411		(11,162	)		24,249	1999	2013
Colonial Grand at Godley Lake	Pooler, GA		—			1,750		30,893		—			2,021		1,750		32,914		34,664		(10,184	)		24,480	2008	2013
Colonial Grand at Godley Station	Pooler, GA		6,588			1,800		35,454		—			4,172		1,800		39,626		41,426		(12,117	)		29,309	2001	2013
Avala at Savannah Quarters	Savannah, GA		—			1,500		24,862		—			2,323		1,500		27,185		28,685		(8,982	)		19,703	2009	2011
Colonial Grand at Hammocks	Savannah, GA		—			2,441		36,863		—			5,452		2,441		42,315		44,756		(13,065	)		31,691	1997	2013
Colonial Village at Greentree	Savannah, GA		—			1,710		10,494		—			2,363		1,710		12,857		14,567		(4,769	)		9,798	1984	2013
Colonial Village at Huntington	Savannah, GA		—			2,521		8,223		—			1,913		2,521		10,136		12,657		(3,378	)		9,279	1986	2013
Colonial Village at Marsh Cove	Savannah, GA		—			5,231		8,555		—			2,095		5,231		10,650		15,881		(4,016	)		11,865	1983	2013
Georgetown Grove	Savannah, GA		—			1,288		11,579		—			3,597		1,288		15,176		16,464		(10,950	)		5,514	1997	1998
Oaks at Wilmington Island	Savannah, GA		—			2,910		25,315		(46	)		5,272		2,864		30,587		33,451		(14,649	)		18,802	1999	2006
MAA West Village	Smyrna, GA		—			14,410		73,733		—			9,330		14,410		83,063		97,473		(18,741	)		78,732	2006/12	2014
Ranch at Prairie Trace	Overland Park, KS		—			3,500		40,614		—			2,048		3,500		42,662		46,162		(6,292	)		39,870	2015	2015
Grand Reserve at Pinnacle	Lexington, KY		—			2,024		31,525		—			6,720		2,024		38,245		40,269		(20,846	)		19,423	2000	1998
Lakepointe	Lexington, KY		—			411		3,699		—			2,732		411		6,431		6,842		(4,903	)		1,939	1986	1994
The Mansion	Lexington, KY		—			694		6,242		—			4,033		694		10,275		10,969		(7,831	)		3,138	1989	1994
The Village	Lexington, KY		—			900		8,097		—			4,994		900		13,091		13,991		(10,026	)		3,965	1989	1994
Stonemill Village	Louisville, KY		—			1,169		10,518		—			9,889		1,169		20,407		21,576		(15,351	)		6,225	1985	1994
Market Station	Kansas City, MO		—			5,814		46,241		—			3,496		5,814		49,737		55,551		(14,079	)		41,472	2010	2012
The Denton	Kansas City, MO		—			750		8,795		—			969		750		9,764		10,514		(1,331	)		9,183	2014	2015
The Denton II	Kansas City, MO		—			770		—		—			24,644		770		24,644		25,414		(1,915	)		23,499	2017	2015
The Denton III	Kansas City, MO		—			4,000		42,144		—			2,868		4,000		45,012		49,012		(7,062	)		41,950	2013/14	2015
Crosswinds	Jackson, MS		—			1,535		13,826		—			6,870		1,535		20,696		22,231		(15,016	)		7,215	1989	1996
Pear Orchard	Jackson, MS		—			1,351		12,168		—			7,808		1,351		19,976		21,327		(15,389	)		5,938	1985	1994
Reflection Pointe	Jackson, MS		—			710		8,770		138			8,547		848		17,317		18,165		(12,990	)		5,175	1986	1988
Lakeshore Landing	Ridgeland, MS		—			676		6,284		—			4,257		676		10,541		11,217		(5,812	)		5,405	1974	1994
Colonial Village at Beaver Creek	Apex, NC		—			7,491		34,863		—			2,929		7,491		37,792		45,283		(11,386	)		33,897	2007	2013
Hermitage at Beechtree	Cary, NC		—			900		8,099		—			5,442		900		13,541		14,441		(9,487	)		4,954	1988	1997
Waterford Forest	Cary, NC		—	⁽²⁾		4,000		20,250		—			4,893		4,000		25,143		29,143		(12,793	)		16,350	1996	2005
MAA 1225	Charlotte, NC		—			9,612		22,342		—			29,659		9,612		52,001		61,613		(12,555	)		49,058	2010	2010
MAA Ayrsley	Charlotte, NC		—			2,481		52,119		—			15,776		2,481		67,895		70,376		(18,765	)		51,611	2008	2013
MAA Ballantyne	Charlotte, NC		—			16,216		44,817		—			3,373		16,216		48,190		64,406		(7,866	)		56,540	2004	2016
MAA Beverly Crest	Charlotte, NC		—			3,161		24,004		—			3,991		3,161		27,995		31,156		(8,526	)		22,630	1996	2013
MAA Chancellor Park	Charlotte, NC		—			5,311		28,016		—			5,195		5,311		33,211		38,522		(10,515	)		28,007	1999	2013
MAA City Grand	Charlotte, NC		—			1,620		17,499		—			1,233		1,620		18,732		20,352		(5,494	)		14,858	2005	2013
MAA Enclave	Charlotte, NC		—			1,461		18,984		—			1,881		1,461		20,865		22,326		(5,651	)		16,675	2008	2013
MAA Gateway	Charlotte, NC		—			17,528		57,444		—			6,189		17,528		63,633		81,161		(11,000	)		70,161	2000	2016
MAA Legacy Park	Charlotte, NC		—			2,891		28,272		—			3,600		2,891		31,872		34,763		(9,899	)		24,864	2001	2013
MAA Prosperity Creek	Charlotte, NC		—			4,591		27,713		—			2,616		4,591		30,329		34,920		(9,662	)		25,258	2005	2013
MAA Reserve	Charlotte, NC		—			4,628		44,282		—			13,450		4,628		57,732		62,360		(9,812	)		52,548	2013	2013
MAA South Line	Charlotte, NC		—			18,835		58,795		—			3,374		18,835		62,169		81,004		(9,182	)		71,822	2009	2016
MAA South Park	Charlotte, NC		—			20,869		65,517		—			6,145		20,869		71,662		92,531		(11,933	)		80,598	1996	2016
MAA South Tryon	Charlotte, NC		—			2,260		19,489		—			2,780		2,260		22,269		24,529		(6,982	)		17,547	2002	2013
MAA Timbercrest	Charlotte, NC		—			2,901		17,192		—			3,396		2,901		20,588		23,489		(6,183	)		17,306	2000	2013
MAA University Lake	Charlotte, NC		—			3,250		31,389		—			5,150		3,250		36,539		39,789		(11,864	)		27,925	1998	2013
MAA Uptown	Charlotte, NC		—			10,888		30,078		—			2,798		10,888		32,876		43,764		(5,527	)		38,237	2000	2016
MAA Cornelius	Cornelius, NC		—			4,571		29,151		—			2,124		4,571		31,275		35,846		(10,161	)		25,685	2009	2013
Colonial Grand at Patterson Place	Durham, NC		—			2,590		27,126		—			3,819		2,590		30,945		33,535		(9,593	)		23,942	1997	2013
Colonial Grand at Research Park	Durham, NC		—			4,201		37,682		—			4,008		4,201		41,690		45,891		(13,146	)		32,745	2002	2013

					Initial Cost				Costs Capitalized Subsequent to Acquisition					Gross Amount carried as of December 31, 2020
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land			Buildings and Fixtures		Land		Buildings and Fixtures		Total ⁽⁴⁾		Accumulated Depreciation ⁽⁵⁾			Net		Date of Construction	Date Acquired
Colonial Village at Deerfield	Durham, NC		—			3,271		15,609		—			2,004		3,271		17,613		20,884		(6,425	)		14,459	1985	2013
MAA Huntersville	Huntersville, NC		—			4,251		31,948		—			3,712		4,251		35,660		39,911		(11,287	)		28,624	2008	2013
MAA Fifty-One	Matthews, NC		—			3,071		21,830		—			6,066		3,071		27,896		30,967		(9,892	)		21,075	2008	2013
MAA Matthews Commons	Matthews, NC		—			3,690		28,536		—			2,672		3,690		31,208		34,898		(9,824	)		25,074	2008	2013
Reserve at Arringdon	Morrisville, NC		—			6,401		31,134		—			4,204		6,401		35,338		41,739		(11,039	)		30,700	2003	2013
Colonial Grand at Brier Creek	Raleigh, NC		—			7,372		50,202		—			2,977		7,372		53,179		60,551		(15,996	)		44,555	2010	2013
Colonial Grand at Brier Falls	Raleigh, NC		—			6,572		48,910		—			2,760		6,572		51,670		58,242		(15,174	)		43,068	2008	2013
Colonial Grand at Crabtree Valley	Raleigh, NC		—			2,241		18,434		—			2,511		2,241		20,945		23,186		(6,105	)		17,081	1997	2013
Colonial Grand at Trinity Commons	Raleigh, NC		—			5,232		45,138		—			5,068		5,232		50,206		55,438		(16,100	)		39,338	2000/02	2013
Hue	Raleigh, NC		—			3,690		29,910		—			2,579		3,690		32,489		36,179		(8,967	)		27,212	2009	2010
Post Parkside at Wade	Raleigh, NC		—			7,196		51,972		—			2,687		7,196		54,659		61,855		(8,476	)		53,379	2011	2016
Post Parkside at Wade II	Raleigh, NC		—			9,450		46,316		587			2,209		10,037		48,525		58,562		(11,932	)		46,630	2017	2016
Post Parkside at Wade III	Raleigh, NC		—			2,200		—		—			22,407		2,200		22,407		24,607		(1,142	)		23,465	2019	2016
Preserve at Brier Creek	Raleigh, NC		—			5,850		21,980		(19	)		26,755		5,831		48,735		54,566		(21,121	)		33,445	2004	2006
Providence at Brier Creek	Raleigh, NC		—			4,695		29,007		—			2,437		4,695		31,444		36,139		(13,463	)		22,676	2007	2008
Colonial Grand at Desert Vista	North Las Vegas, NV		—			4,091		29,826		—			2,303		4,091		32,129		36,220		(10,207	)		26,013	2009	2013
Colonial Grand at Palm Vista	North Las Vegas, NV		—			4,909		25,643		—			4,318		4,909		29,961		34,870		(9,973	)		24,897	2007	2013
Tanglewood	Anderson, SC		—			427		3,853		—			2,741		427		6,594		7,021		(5,376	)		1,645	1980	1994
1201 Midtown	Charleston, SC		—			11,929		57,885		—			954		11,929		58,839		70,768		(7,130	)		63,638	2015	2016
1201 Midtown II	Charleston, SC		—			6,750		5,874		—			16,451		6,750		22,325		29,075		(1,600	)		27,475	2018	2016
Colonial Grand at Cypress Cove	Charleston, SC		—			3,610		28,645		—			2,717		3,610		31,362		34,972		(10,031	)		24,941	2001	2013
Colonial Village at Hampton Pointe	Charleston, SC		—			3,971		22,790		—			6,965		3,971		29,755		33,726		(9,304	)		24,422	1986	2013
Colonial Village at Westchase	Charleston, SC		—			4,571		20,091		—			4,839		4,571		24,930		29,501		(8,766	)		20,735	1985	2013
Quarterdeck at James Island	Charleston, SC		—			920		24,097		—			6,473		920		30,570		31,490		(9,639	)		21,851	1987	2013
River's Walk	Charleston, SC		—			8,831		39,430		—			2,523		8,831		41,953		50,784		(6,852	)		43,932	2013/16	2013
Paddock Club Columbia	Columbia, SC		—			1,840		16,560		—			5,170		1,840		21,730		23,570		(15,547	)		8,023	1991	1997
The Fairways	Columbia, SC		—			910		8,207		—			3,428		910		11,635		12,545		(9,073	)		3,472	1992	1994
Colonial Village at Windsor Place	Goose Creek, SC		—			1,321		14,163		—			3,765		1,321		17,928		19,249		(6,376	)		12,873	1985	2013
Highland Ridge	Greenville, SC		—			482		4,337		—			2,998		482		7,335		7,817		(5,123	)		2,694	1984	1995
Howell Commons	Greenville, SC		—			1,304		11,740		—			4,415		1,304		16,155		17,459		(11,843	)		5,616	1987	1997
Innovation Apartment Homes	Greenville, SC		—			4,437		52,026		—			2,223		4,437		54,249		58,686		(8,075	)		50,611	2015	2016
Paddock Club Greenville	Greenville, SC		—			1,200		10,800		—			3,149		1,200		13,949		15,149		(9,730	)		5,419	1996	1997
Park Haywood	Greenville, SC		—			325		2,925		35			4,767		360		7,692		8,052		(5,857	)		2,195	1983	1993
Spring Creek	Greenville, SC		—			597		5,374		(14	)		2,973		583		8,347		8,930		(6,216	)		2,714	1985	1995
The Greene	Greenville, SC		—			5,420		66,546		7			600		5,427		67,146		72,573		(2,072	)		70,501	2019	2019
Runaway Bay	Mt. Pleasant, SC		—			1,085		7,269		12			6,622		1,097		13,891		14,988		(10,344	)		4,644	1988	1995
Colonial Grand at Commerce Park	North Charleston, SC		—			2,780		33,966		—			3,514		2,780		37,480		40,260		(11,287	)		28,973	2008	2013
535 Brookwood	Simpsonville, SC		—			1,216		18,666		—			2,222		1,216		20,888		22,104		(7,605	)		14,499	2008	2010
Park Place	Spartanburg, SC		—			723		6,504		—			2,811		723		9,315		10,038		(6,870	)		3,168	1987	1997
Colonial Village at Waters Edge	Summerville, SC		—			2,103		9,187		—			4,537		2,103		13,724		15,827		(5,627	)		10,200	1985	2013
Farmington Village	Summerville, SC		—			2,800		26,295		—			2,963		2,800		29,258		32,058		(13,242	)		18,816	2007	2007
Hamilton Pointe	Chattanooga, TN		—			1,131		10,632		—			6,688		1,131		17,320		18,451		(8,622	)		9,829	1989	1992
Hidden Creek	Chattanooga, TN		—			972		8,954		—			6,875		972		15,829		16,801		(7,757	)		9,044	1987	1988
Steeplechase	Chattanooga, TN		—			217		1,957		—			4,220		217		6,177		6,394		(3,835	)		2,559	1986	1991
Windridge	Chattanooga, TN		—			817		7,416		—			4,398		817		11,814		12,631		(8,498	)		4,133	1984	1997
Kirby Station	Memphis, TN		—			1,148		10,337		—			10,378		1,148		20,715		21,863		(15,153	)		6,710	1978	1994
Lincoln on the Green	Memphis, TN		—			1,498		20,483		—			16,721		1,498		37,204		38,702		(27,617	)		11,085	1992	1994
Park Estate	Memphis, TN		—			178		1,141		—			3,587		178		4,728		4,906		(3,482	)		1,424	1974	1977
Reserve at Dexter Lake	Memphis, TN		—			1,260		16,043		2,147			43,880		3,407		59,923		63,330		(30,350	)		32,980	2000	1998
Paddock Club Murfreesboro	Murfreesboro, TN		—			915		14,774		—			4,044		915		18,818		19,733		(10,577	)		9,156	1999	1998
Acklen West End	Nashville, TN		—			12,761		58,906		—			1,714		12,761		60,620		73,381		(6,643	)		66,738	2015	2017
Aventura at Indian Lake Village	Nashville, TN		—			4,950		28,053		—			2,747		4,950		30,800		35,750		(9,845	)		25,905	2010	2011
Avondale at Kennesaw	Nashville, TN		—			3,456		22,443		—			4,011		3,456		26,454		29,910		(9,468	)		20,442	2008	2010
Brentwood Downs	Nashville, TN		—			1,193		10,739		(2	)		8,946		1,191		19,685		20,876		(13,542	)		7,334	1986	1994
Charlotte at Midtown	Nashville, TN		—			7,898		54,480		—			1,692		7,898		56,172		64,070		(6,139	)		57,931	2016	2017
Colonial Grand at Bellevue	Nashville, TN		—			17,278		64,196		(2	)		5,577		17,276		69,773		87,049		(17,249	)		69,800	1996/ 2015	2013
Grande View Nashville	Nashville, TN		—			2,963		33,673		—			8,777		2,963		42,450		45,413		(22,334	)		23,079	2001	1998
Monthaven Park	Nashville, TN		—			2,736		28,902		—			6,246		2,736		35,148		37,884		(19,946	)		17,938	2000	2004
Park at Hermitage	Nashville, TN		—			1,524		14,800		—			8,839		1,524		23,639		25,163		(18,064	)		7,099	1987	1995
Venue at Cool Springs	Nashville, TN		—			6,670		—		—			52,837		6,670		52,837		59,507		(11,775	)		47,732	2012	2010
Verandas at Sam Ridley	Nashville, TN		—			3,350		28,308		—			3,892		3,350		32,200		35,550		(11,401	)		24,149	2009	2010
Balcones Woods	Austin, TX		—			1,598		14,398		—			9,785		1,598		24,183		25,781		(17,292	)		8,489	1983	1997
Colonial Grand at Canyon Creek	Austin, TX		—			3,621		32,137		—			2,212		3,621		34,349		37,970		(10,837	)		27,133	2008	2013
Colonial Grand at Canyon Pointe	Austin, TX		—			3,778		20,201		—			2,780		3,778		22,981		26,759		(7,995	)		18,764	2003	2013
Colonial Grand at Double Creek	Austin, TX		—			3,131		29,375		—			1,284		3,131		30,659		33,790		(9,669	)		24,121	2013	2013
Colonial Grand at Onion Creek	Austin, TX		—			4,902		33,010		—			2,682		4,902		35,692		40,594		(11,464	)		29,130	2009	2013
Colonial Grand at Wells Branch	Austin, TX		—	⁽³⁾		3,094		32,283		294			2,287		3,388		34,570		37,958		(10,328	)		27,630	2008	2013
Colonial Village at Quarry Oaks	Austin, TX		—			4,621		34,461		—			7,297		4,621		41,758		46,379		(14,463	)		31,916	1996	2013
Grand Reserve at Sunset Valley	Austin, TX		—			3,150		11,393		—			4,064		3,150		15,457		18,607		(8,415	)		10,192	1996	2004
Legacy at Western Oaks	Austin, TX		—	⁽¹⁾		9,100		49,339		—			1,619		9,100		50,958		60,058		(15,957	)		44,101	2001	2009
Post Barton Creek	Austin, TX		—			8,683		21,497		—			1,779		8,683		23,276		31,959		(4,315	)		27,644	1998	2016
Post Park Mesa	Austin, TX		—			4,653		19,828		—			1,326		4,653		21,154		25,807		(3,423	)		22,384	1992	2016
Post South Lamar	Austin, TX		—			11,542		41,293		—			3,704		11,542		44,997		56,539		(8,822	)		47,717	2011	2016
Post South Lamar II	Austin, TX		—			9,000		32,800		—			20,134		9,000		52,934		61,934		(5,292	)		56,642	2017	2016
Post West Austin	Austin, TX		—	⁽³⁾		7,805		48,843		—			2,203		7,805		51,046		58,851		(9,935	)		48,916	2009	2016
Silverado at Brushy Creek	Austin, TX		—			2,900		24,009		—			4,788		2,900		28,797		31,697		(14,486	)		17,211	2003	2006

					Initial Cost				Costs Capitalized Subsequent to Acquisition					Gross Amount carried as of December 31, 2020
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land			Buildings and Fixtures		Land		Buildings and Fixtures		Total ⁽⁴⁾		Accumulated Depreciation ⁽⁵⁾			Net		Date of Construction	Date Acquired
Sixty 600	Austin, TX		—			2,281		6,169		—			7,794		2,281		13,963		16,244		(9,297	)		6,947	1987	1995
Stassney Woods	Austin, TX		—			1,621		7,501		—			8,403		1,621		15,904		17,525		(10,580	)		6,945	1985	1995
The Woods on Barton Skyway	Austin, TX		—			1,405		12,769		—			12,043		1,405		24,812		26,217		(12,214	)		14,003	1977	1997
Colonial Village at Shoal Creek	Bedford, TX		—			4,982		27,377		—			4,463		4,982		31,840		36,822		(10,699	)		26,123	1996	2013
Colonial Village at Willow Creek	Bedford, TX		—			3,109		33,488		—			8,965		3,109		42,453		45,562		(14,258	)		31,304	1996	2013
Colonial Grand at Hebron	Carrollton, TX		—			4,231		42,237		—			2,316		4,231		44,553		48,784		(12,640	)		36,144	2011	2013
Colonial Grand at Silverado	Cedar Park, TX		—			3,282		24,935		—			1,846		3,282		26,781		30,063		(8,371	)		21,692	2005	2013
Colonial Grand at Silverado Reserve	Cedar Park, TX		—			3,951		31,705		—			2,588		3,951		34,293		38,244		(10,495	)		27,749	2005	2013
Grand Cypress	Cypress, TX		—			3,881		24,267		—			1,814		3,881		26,081		29,962		(6,036	)		23,926	2008	2013
Colonial Reserve at Medical District	Dallas, TX		—			4,050		33,779		—			2,815		4,050		36,594		40,644		(10,055	)		30,589	2007	2013
Courtyards at Campbell	Dallas, TX		—			988		8,893		—			4,327		988		13,220		14,208		(9,130	)		5,078	1986	1998
Deer Run	Dallas, TX		—			1,252		11,271		—			5,034		1,252		16,305		17,557		(11,804	)		5,753	1985	1998
Grand Courtyards	Dallas, TX		—			2,730		22,240		—			4,848		2,730		27,088		29,818		(13,175	)		16,643	2000	2006
Legends at Lowe's Farm	Dallas, TX		—			5,016		41,091		—			2,916		5,016		44,007		49,023		(14,543	)		34,480	2008	2011
MAA Frisco Bridges I/III	Dallas, TX		—			8,745		66,571		—			3,896		8,745		70,467		79,212		(16,574	)		62,638	2009/13	2013
MAA McKinney Avenue	Dallas, TX		—			13,178		24,048		—			4,248		13,178		28,296		41,474		(4,339	)		37,135	1996	2016
MAA McKinney Avenue II	Dallas, TX		—			13,621		8,608		—			2,726		13,621		11,334		24,955		(1,984	)		22,971	1993	2016
MAA McKinney Avenue III	Dallas, TX		—			7,966		7,471		—			1,936		7,966		9,407		17,373		(1,565	)		15,808	1996	2016
MAA Worthington	Dallas, TX		—			13,713		43,268		—			6,056		13,713		49,324		63,037		(7,368	)		55,669	1993/ 2008	2016
Post Abbey	Dallas, TX		—			2,711		4,369		—			403		2,711		4,772		7,483		(813	)		6,670	1996	2016
Post Addison Circle	Dallas, TX		—			12,308		189,419		—			15,002		12,308		204,421		216,729		(33,343	)		183,386	1998-2000	2016
Post Cole's Corner	Dallas, TX		—			13,030		14,383		—			2,975		13,030		17,358		30,388		(3,309	)		27,079	1998	2016
Post Eastside	Dallas, TX		—			7,134		58,095		—			2,393		7,134		60,488		67,622		(10,636	)		56,986	2008	2016
Post Gallery	Dallas, TX		—			4,391		7,910		—			1,079		4,391		8,989		13,380		(1,852	)		11,528	1999	2016
Post Heights	Dallas, TX		—			26,245		37,922		—			2,420		26,245		40,342		66,587		(7,074	)		59,513	1998-1999/2009	2016
Post Katy Trail	Dallas, TX		—			10,333		32,456		—			1,374		10,333		33,830		44,163		(5,130	)		39,033	2010	2016
Post Legacy	Dallas, TX		—	⁽³⁾		6,575		55,277		—			4,781		6,575		60,058		66,633		(9,694	)		56,939	2000	2016
Post Meridian	Dallas, TX		—			8,780		13,654		—			839		8,780		14,493		23,273		(2,611	)		20,662	1991	2016
Post Uptown Village	Dallas, TX		—			34,974		33,213		—			5,969		34,974		39,182		74,156		(7,154	)		67,002	1995-2000	2016
Watermark	Dallas, TX		—	⁽²⁾		960		14,438		—			3,080		960		17,518		18,478		(9,748	)		8,730	2002	2004
Colonial Grand at Bear Creek	Euless, TX		—			6,453		30,048		—			3,637		6,453		33,685		40,138		(11,649	)		28,489	1998	2013
Colonial Grand at Fairview	Fairview, TX		—			2,171		35,077		—			1,391		2,171		36,468		38,639		(10,300	)		28,339	2012	2013
La Valencia at Starwood	Frisco, TX		—			3,240		26,069		—			2,041		3,240		28,110		31,350		(10,144	)		21,206	2009	2010
Colonial Village at Grapevine	Grapevine, TX		—			2,351		29,757		—			6,985		2,351		36,742		39,093		(11,674	)		27,419	1985/86	2013
Greenwood Forest	Houston, TX		—			3,465		23,482		—			1,685		3,465		25,167		28,632		(6,907	)		21,725	1994	2013
Legacy Pines	Houston, TX		—	⁽²⁾		2,157		19,066		(15	)		4,172		2,142		23,238		25,380		(13,617	)		11,763	1999	2003
Park Place Houston	Houston, TX		—			2,061		15,830		—			3,221		2,061		19,051		21,112		(9,071	)		12,041	1996	2007
Post 510	Houston, TX		—			7,227		33,366		—			931		7,227		34,297		41,524		(6,287	)		35,237	2014	2016
Post at Afton Oaks	Houston, TX		—			11,503		65,469		—			4,129		11,503		69,598		81,101		(14,474	)		66,627	2017	2016
Post Midtown Square	Houston, TX		—			19,038		89,570		—			4,708		19,038		94,278		113,316		(16,178	)		97,138	1999/ 2013	2016
Ranchstone	Houston, TX		—			1,480		14,807		—			3,343		1,480		18,150		19,630		(8,367	)		11,263	1996	2007
Reserve at Woodwind Lakes	Houston, TX		—			1,968		19,928		—			4,551		1,968		24,479		26,447		(11,956	)		14,491	1999	2006
Retreat at Vintage Park	Houston, TX		—	⁽³⁾		8,211		40,352		—			1,704		8,211		42,056		50,267		(6,774	)		43,493	2014	2014
Yale at 6th	Houston, TX		—	⁽¹⁾		13,107		62,764		—			2,109		13,107		64,873		77,980		(8,309	)		69,671	2015	2016
Cascade at Fall Creek	Humble, TX		—			5,985		40,011		—			3,599		5,985		43,610		49,595		(19,437	)		30,158	2007	2007
Bella Casita	Irving, TX		—	⁽²⁾		2,521		26,432		—			3,894		2,521		30,326		32,847		(10,396	)		22,451	2007	2010
Colonial Grand at Valley Ranch	Irving, TX		—			5,072		37,397		—			13,787		5,072		51,184		56,256		(17,704	)		38,552	1997	2013
Colonial Reserve at Las Colinas	Irving, TX		—	⁽¹⁾		3,902		40,691		—			2,411		3,902		43,102		47,004		(11,879	)		35,125	2006	2013
Remington Hills	Irving, TX		—			4,390		21,822		—			12,573		4,390		34,395		38,785		(10,890	)		27,895	1984	2013
Colonial Village at Oakbend	Lewisville, TX		—			5,598		28,616		—			5,700		5,598		34,316		39,914		(11,122	)		28,792	1997	2013
Times Square at Craig Ranch	McKinney, TX		—			1,130		28,058		—			5,658		1,130		33,716		34,846		(12,315	)		22,531	2009	2010
Venue at Stonebridge Ranch	McKinney, TX		—			4,034		19,528		—			2,444		4,034		21,972		26,006		(5,556	)		20,450	2000	2013
Cityscape at Market Center	Plano, TX		—			16,894		110,705		—			4,076		16,894		114,781		131,675		(17,834	)		113,841	2013/15	2014
Highwood	Plano, TX		—			864		7,783		—			3,395		864		11,178		12,042		(7,906	)		4,136	1983	1998
Los Rios Park	Plano, TX		—			3,273		28,823		—			7,115		3,273		35,938		39,211		(20,443	)		18,768	2000	2003
Boulder Ridge	Roanoke, TX		—			3,382		26,930		—			7,050		3,382		33,980		37,362		(17,563	)		19,799	1999	2005
Copper Ridge	Roanoke, TX		—			3,336		—		—			22,762		3,336		22,762		26,098		(7,161	)		18,937	2009	2008
Copper Ridge II	Roanoke, TX		—			830		—		—			25,427		830		25,427		26,257		(1,012	)		25,245	2020	2008
Colonial Grand at Ashton Oaks	Round Rock, TX		—			5,511		36,241		—			2,661		5,511		38,902		44,413		(12,248	)		32,165	2009	2013
Colonial Grand at Round Rock	Round Rock, TX		—			4,691		45,379		—			3,064		4,691		48,443		53,134		(14,797	)		38,337	1997	2013
Colonial Village at Sierra Vista	Round Rock, TX		—			2,561		16,488		—			4,290		2,561		20,778		23,339		(7,251	)		16,088	1999	2013
Alamo Ranch	San Antonio, TX		—			2,380		26,982		—			3,158		2,380		30,140		32,520		(10,753	)		21,767	2009	2011
Bulverde Oaks	San Antonio, TX		—			4,257		36,759		—			1,796		4,257		38,555		42,812		(6,544	)		36,268	2014	2014
Haven at Blanco	San Antonio, TX		—			5,450		45,958		(39	)		3,940		5,411		49,898		55,309		(14,877	)		40,432	2010	2012
Stone Ranch at Westover Hills	San Antonio, TX		—			4,000		24,992		—			3,444		4,000		28,436		32,436		(10,973	)		21,463	2009	2009
Cypresswood Court	Spring, TX		—	⁽²⁾		576		5,190		—			4,876		576		10,066		10,642		(6,274	)		4,368	1984	1994
Villages at Kirkwood	Stafford, TX		—			1,918		15,846		—			3,260		1,918		19,106		21,024		(10,306	)		10,718	1996	2004
Green Tree Place	Woodlands, TX		—	⁽²⁾		539		4,850		—			3,797		539		8,647		9,186		(6,452	)		2,734	1984	1994
Stonefield Commons	Charlottesville, VA		—			11,044		36,689		—			1,739		11,044		38,428		49,472		(6,655	)		42,817	2013	2014
Adalay Bay	Chesapeake, VA		—			5,280		31,341		—			3,864		5,280		35,205		40,485		(11,284	)		29,201	2002	2012
Apartments at Cobblestone Square	Fredericksburg, VA		—			10,990		48,696		—			3,035		10,990		51,731		62,721		(9,495	)		53,226	2012	2016
Colonial Village at Greenbrier	Fredericksburg, VA		—			4,842		21,677		—			2,926		4,842		24,603		29,445		(6,988	)		22,457	1980	2013
Seasons at Celebrate Virginia	Fredericksburg, VA		—			14,490		32,083		—			40,576		14,490		72,659		87,149		(17,743	)		69,406	2011	2011
Station Square at Cosner's Corner	Fredericksburg, VA		—			12,825		51,078		—			1,895		12,825		52,973		65,798		(9,454	)		56,344	2013/16	2013
Colonial Village at Hampton Glen	Glen Allen, VA		—			4,851		21,678		—			3,890		4,851		25,568		30,419		(7,916	)		22,503	1986	2013

					Initial Cost				Costs Capitalized Subsequent to Acquisition					Gross Amount carried as of December 31, 2020
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land			Buildings and Fixtures		Land		Buildings and Fixtures		Total ⁽⁴⁾		Accumulated Depreciation ⁽⁵⁾			Net		Date of Construction	Date Acquired
Colonial Village at West End	Glen Allen, VA		—			4,661		18,908		—			3,203		4,661		22,111		26,772		(6,900	)		19,872	1987	2013
Township	Hampton, VA		—			1,509		8,189		—			8,610		1,509		16,799		18,308		(11,803	)		6,505	1987	1995
Colonial Village at Waterford	Midlothian, VA		—			6,733		29,221		—			5,267		6,733		34,488		41,221		(11,295	)		29,926	1989	2013
Radius	Newport News, VA		—			5,040		36,481		—			3,515		5,040		39,996		45,036		(6,344	)		38,692	2012	2015
Ashley Park	Richmond, VA		—			4,761		13,365		—			2,960		4,761		16,325		21,086		(5,791	)		15,295	1988	2013
Colonial Village at Chase Gayton	Richmond, VA		—			6,021		29,004		—			4,209		6,021		33,213		39,234		(10,660	)		28,574	1984	2013
Hamptons at Hunton Park	Richmond, VA		—			4,930		35,598		—			6,270		4,930		41,868		46,798		(13,740	)		33,058	2003	2011
Retreat at West Creek	Richmond, VA		—			7,112		36,136		—			2,811		7,112		38,947		46,059		(5,868	)		40,191	2015	2015
Retreat at West Creek II	Richmond, VA		—			3,000		—		—			12,242		3,000		12,242		15,242		(1,165	)		14,077	2017	2015
Post Carlyle Square	Washington D.C.		—			29,728		154,309		—			4,026		29,728		158,335		188,063		(24,500	)		163,563	2006/13	2016
Post Corners at Trinity Center	Washington D.C.		—			7,664		70,012		—			2,418		7,664		72,430		80,094		(11,401	)		68,693	1996	2016
Post Fallsgrove	Washington D.C.		—			17,524		58,896		—			3,677		17,524		62,573		80,097		(10,264	)		69,833	2003	2016
Post Park	Washington D.C.		—			5,355		79,842		—			2,552		5,355		82,394		87,749		(16,666	)		71,083	2010	2016
Post Pentagon Row	Washington D.C.		—			30,452		125,091		—			11,360		30,452		136,451		166,903		(21,740	)		145,163	2001	2016
Post Tysons Corner	Washington D.C.		—			30,776		82,021		—			5,131		30,776		87,152		117,928		(13,561	)		104,367	1990	2016
Total Residential Properties			6,588			1,820,908		9,941,939		5,217			1,881,901		1,826,125		11,823,840		13,649,965		(3,360,649	)		10,289,316
Colonial Promenade at Huntsville Retail	Huntsville, AL		—			1,748		—		(1,300	)		—		448		—		448		—			448	2017	2013
220 Riverside Retail	Jacksonville, FL		—			119		2,902		—			231		119		3,133		3,252		(149	)		3,103	2015	2019
Post Parkside Orlando Retail	Orlando, FL		—			742		11,924		—			1,213		742		13,137		13,879		(2,131	)		11,748	1999	2016
Post Harbour Place Retail	Tampa, FL		—			386		4,315		—			361		386		4,676		5,062		(738	)		4,324	1997	2016
Post Rocky Point Retail	Tampa, FL		—			34		51		—			398		34		449		483		(147	)		336	1994-1996	2016
Post Soho Square Retail	Tampa, FL		—			268		4,033		—			13		268		4,046		4,314		(893	)		3,421	2012	2016
MAA Buckhead Retail	Atlanta, GA		—			867		3,465		—			802		867		4,267		5,134		(1,077	)		4,057	2012	2012
MAA Piedmont Park Retail	Atlanta, GA		—			426		1,089		—			21		426		1,110		1,536		(195	)		1,341	1999	2016
MAA Riverside Office	Atlanta, GA		—			9,680		22,108		—			9,107		9,680		31,215		40,895		(6,079	)		34,816	1996	2016
MAA Riverside Retail	Atlanta, GA		—			889		2,340		—			2,574		889		4,914		5,803		(694	)		5,109	1996	2016
Post Training Facility	Atlanta, GA		—			1,092		968		—			32		1,092		1,000		2,092		(325	)		1,767	1999	2016
MAA West Village Retail	Smyrna, GA		—			2,500		8,446		908			1,500		3,408		9,946		13,354		(2,109	)		11,245	2012	2014
The Denton Retail	Kansas City, MO		—			700		4,439		—			731		700		5,170		5,870		(808	)		5,062	2014	2015
MAA 1225 Retail	Charlotte, NC		—			43		199		9			242		52		441		493		(157	)		336	2010	2010
MAA Gateway Retail	Charlotte, NC		—			318		1,430		—			26		318		1,456		1,774		(280	)		1,494	2000	2016
MAA South Line Retail	Charlotte, NC		—			470		1,289		—			122		470		1,411		1,881		(271	)		1,610	2009	2016
MAA Uptown Retail	Charlotte, NC		—			319		1,144		—			11		319		1,155		1,474		(199	)		1,275	1998	2016
Post Uptown Leasing Center	Charlotte, NC		—			1,290		1,488		—			146		1,290		1,634		2,924		(258	)		2,666	1998	2016
Hue Retail	Raleigh, NC		—			—		2,129		—			64		—		2,193		2,193		(177	)		2,016	2010	2018
Post Parkside at Wade Retail	Raleigh, NC		—			317		4,552		—			84		317		4,636		4,953		(1,009	)		3,944	2011	2016
The Greene Retail	Greenville, SC		—			—		—		—			—		—		—		—		—			—	2019	2019
Post South Lamar Retail	Austin, TX		—			421		3,072		—			574		421		3,646		4,067		(567	)		3,500	2011	2016
MAA Frisco Bridges Retail	Dallas, TX		—			779		6,593		—			668		779		7,261		8,040		(1,335	)		6,705	2009	2016
MAA McKinney Avenue Retail	Dallas, TX		—			1,581		5,982		—			285		1,581		6,267		7,848		(1,052	)		6,796	1996	2016
MAA Worthington Retail	Dallas, TX		—			108		495		—			370		108		865		973		(107	)		866	1993/ 2008	2016
Post Addison Circle Office	Dallas, TX		—			1,395		4,280		—			828		1,395		5,108		6,503		(1,257	)		5,246	1998-2000	2016
Post Addison Circle Retail	Dallas, TX		—			448		21,386		—			1,951		448		23,337		23,785		(4,583	)		19,202	1998-2000	2016
Post Coles Corner Retail	Dallas, TX		—			347		716		—			75		347		791		1,138		(159	)		979	1998	2016
Post Eastside Retail	Dallas, TX		—			682		10,645		—			397		682		11,042		11,724		(1,866	)		9,858	2008	2016
Post Heights Retail	Dallas, TX		—			1,066		3,314		—			152		1,066		3,466		4,532		(615	)		3,917	1997	2016
Post Katy Trail Retail	Dallas, TX		—			465		4,883		—			81		465		4,964		5,429		(783	)		4,646	2010	2016
Post Legacy Retail	Dallas, TX		—			150		3,334		—			378		150		3,712		3,862		(569	)		3,293	2000	2016
Post Midtown Square Retail	Houston, TX		—			1,327		16,005		—			372		1,327		16,377		17,704		(2,614	)		15,090	1999/ 2013	2016
Rise Condo Devel LP Retail	Houston, TX		—			—		2,280		—			56		—		2,336		2,336		(397	)		1,939	1999/ 2013	2016
Bella Casita at Las Colinas Retail	Irving, TX		—	⁽²⁾		46		186		—			176		46		362		408		(118	)		290	2007	2010
Times Square at Craig Ranch Retail	McKinney, TX		—			253		1,310		—			4,010		253		5,320		5,573		(940	)		4,633	2009	2010
Post Carlyle Square Retail	Washington D.C.		—			1,048		7,930		—			57		1,048		7,987		9,035		(1,315	)		7,720	2006/16	2016
Post Park Maryland Retail	Washington D.C.		—			25		137		—			—		25		137		162		(19	)		143	2007	2016
Total Retail / Commercial Properties			—			32,349		170,859		(383	)		28,108		31,966		198,967		230,933		(35,992	)		194,941
Novel Val Vista	Gilbert, AZ		—			—		—		7,284			5,670		7,284		5,670		12,954		—			12,954	N/A	2020
Novel Midtown	Phoenix, AZ		—			9,381		—		—			62,922		9,381		62,922		72,303		—			72,303	N/A	2019
MAA Frisco Bridges II	Dallas, TX		—			6,100		—		—			59,145		6,100		59,145		65,245		(1,049	)		64,196	N/A	2016
MAA Westglenn	Denver, CO		—			8,077		—		—			39,715		8,077		39,715		47,792		—			47,792	N/A	2018
MAA Windmill Hill	Austin, TX		—			—		—		5,006			5,131		5,006		5,131		10,137		—			10,137	N/A	2020
MAA Robinson	Orlando, FL		—			6,004		—		—			62,714		6,004		62,714		68,718		—			68,718	N/A	2018
Sand Lake	Orlando, FL		—			7,704		—		(69	)		35,224		7,635		35,224		42,859		—			42,859	N/A	2019
Long Point	Houston, TX		—			9,031		—		—			22,206		9,031		22,206		31,237		—			31,237	N/A	2018
Total Active Development Properties			—			46,297		—		12,221			292,727		58,518		292,727		351,245		(1,049	)		350,196
Total Properties			6,588			1,899,554		10,112,798		17,055			2,202,736		1,916,609		12,315,534		14,232,143		(3,397,690	)		10,834,453
Total Land Held for Future Developments			—			60,993		—		—			—		60,993		—		60,993		—			60,993	N/A	Various
Total Properties in Predevelopment			—			—		—		12,572			2,396		12,572		2,396		14,968		(58	)		14,910	Various	Various
Corporate Properties			—			—		—		—			30,791		—		30,791		30,791		(17,357	)		13,434	Various	Various
Total Other			—			60,993		—		12,572			33,187		73,565		33,187		106,752		(17,415	)		89,337
Total Real Estate Assets, net of Real Estate Joint Venture		$	6,588		$	1,960,547	$	10,112,798	$	29,627		$	2,235,923	$	1,990,174	$	12,348,721	$	14,338,895	$	(3,415,105	)	$	10,923,790

⁽¹⁾	^{Encumbered by a $172.0 million secured property mortgage, with a fixed interest rate of 4.44%, which matures on January 10, 2049.}

⁽²⁾	^{Encumbered by a $118.8 million secured property mortgage, with a fixed interest rate of 5.08%, which matures on June 10, 2021.}

⁽³⁾	^{Encumbered by a $191.3 million secured property mortgage, with a fixed interest rate of 4.43%, which matures on February 10, 2049.}

⁽⁴⁾

^{The aggregate cost for federal income tax purposes was approximately $11.5 billion at December 31, 2020. The aggregate cost for book purposes exceeds the total gross amount of real estate assets for federal income tax purposes, principally due to purchase accounting adjustments recorded under accounting principles generally accepted in the United States of America.}

⁽⁵⁾	^{Depreciation is recognized on a straight-line basis over the estimated useful asset life, which ranges from five to 40 years for land improvements and buildings, three to five years for furniture, fixtures and equipment and six months for the fair market value of residential leases.}

Mid-America Apartment Communities, Inc. and Mid-America Apartments, L.P.

Schedule III — Real Estate and Accumulated Depreciation

Years ended December 31, 2020, 2019 and 2018

The following table summarizes the Company’s changes in real estate investments and accumulated depreciation for the years ended December 31, 2020, 2019 and 2018 (dollars in thousands):

	2020			2019			2018
Real estate investments:
Balance at beginning of year	$	13,898,707		$	13,656,807		$	13,292,039
Acquisitions ⁽¹⁾		56,327			105,730			130,187
Less: FMV of leases included in acquisitions		—			(512	)		(796	)
Improvement and development		437,268			302,380			253,954
Disposition of real estate assets ⁽²⁾		(53,407	)		(165,698	)		(18,577	)
Balance at end of year	$	14,338,895		$	13,898,707		$	13,656,807
Accumulated depreciation:
Balance at beginning of year	$	2,955,253		$	2,549,287		$	2,075,071
Depreciation		508,746			493,674			485,654
Disposition of real estate assets ⁽²⁾		(48,894	)		(87,708	)		(11,438	)
Balance at end of year	$	3,415,105		$	2,955,253		$	2,549,287

⁽¹⁾	^{Includes non-cash activity related to acquisitions.}

⁽²⁾	^{Includes assets sold, casualty losses, and removal of certain fully depreciated assets.}

See accompanying reports of independent registered public accounting firm.