XML 41 R23.htm IDEA: XBRL DOCUMENT

Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2022
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
Birchall at Ross Bridge	Birmingham, AL	$	—		$	2,641	$	28,842	$	—	$	3,920	$	2,641	$	32,762	$	35,403	$	(12,558	)	$	22,845	2009	2011
Colonial Grand at Riverchase Trails	Birmingham, AL		—			3,762		22,079		—		7,134		3,762		29,213		32,975		(12,345	)		20,630	2010	2013
Colonial Village at Trussville	Birmingham, AL		—			3,403		31,813		—		6,205		3,403		38,018		41,421		(14,803	)		26,618	1996/97	2013
Eagle Ridge	Birmingham, AL		—			852		7,667		—		5,030		852		12,697		13,549		(9,456	)		4,093	1986	1998
Colonial Grand at Traditions	Gulf Shores, AL		—			3,212		25,162		—		6,445		3,212		31,607		34,819		(12,678	)		22,141	2007	2013
Colonial Grand at Edgewater	Huntsville, AL		—			4,944		38,673		—		8,850		4,944		47,523		52,467		(17,136	)		35,331	1990	2013
Paddock Club at Providence	Huntsville, AL		—			1,740		10,152		—		17,192		1,740		27,344		29,084		(17,406	)		11,678	1993	1997
Colonial Grand at Madison	Madison, AL		—			3,602		28,934		—		3,624		3,602		32,558		36,160		(13,057	)		23,103	2000	2013
Cypress Village	Orange Beach, AL		—			1,290		12,238		—		3,317		1,290		15,555		16,845		(5,800	)		11,045	2008	2013
Colonial Grand at Liberty Park	Vestavia Hills, AL		—			3,922		30,977		—		8,585		3,922		39,562		43,484		(16,136	)		27,348	2000	2013
MAA Sky View	Gilbert, AZ		—			2,668		14,577		—		3,099		2,668		17,676		20,344		(8,433	)		11,911	2007	2009
MAA City Gate	Mesa, AZ		—			4,219		26,255		—		4,879		4,219		31,134		35,353		(11,675	)		23,678	2002	2013
MAA Lyon's Gate	Phoenix, AZ		—			7,901		27,182		—		4,399		7,901		31,581		39,482		(15,332	)		24,150	2007	2008
MAA Fountainhead	Phoenix, AZ		—	(1)		12,212		56,705		—		3,217		12,212		59,922		72,134		(12,011	)		60,123	2015	2016
MAA Foothills	Phoenix, AZ		—			12,741		47,701		—		6,070		12,741		53,771		66,512		(29,123	)		37,389	2005	2006
MAA Midtown Phoenix	Phoenix, AZ		—			9,001		—		—		74,239		9,001		74,239		83,240		(6,550	)		76,690	2021	2019
MAA Old Town Scottsdale	Scottsdale, AZ		—			7,820		51,627		—		8,895		7,820		60,522		68,342		(22,364	)		45,978	1994/95	2013
MAA Camelback	Scottsdale, AZ		—			3,612		20,273		—		4,936		3,612		25,209		28,821		(9,323	)		19,498	1999	2013
SkySong	Scottsdale, AZ		—			—		55,748		—		4,551		—		60,299		60,299		(12,397	)		47,902	2014	2015
MAA River North	Denver, CO		—			14,500		28,900		—		41,377		14,500		70,277		84,777		(12,658	)		72,119	2018	2016
MAA Promenade	Denver, CO		—			24,111		81,317		—		22,698		24,111		104,015		128,126		(15,137	)		112,989	2017/19	2018
MAA Westglenn	Denver, CO		—			8,077		—		—		74,751		8,077		74,751		82,828		(5,127	)		77,701	2021	2018
MAA Tiffany Oaks	Altamonte Springs, FL		—			1,024		9,219		—		6,310		1,024		15,529		16,553		(11,907	)		4,646	1985	1996
MAA Lakewood Ranch	Bradenton, FL		—			2,980		40,230		—		8,224		2,980		48,454		51,434		(17,807	)		33,627	1999	2013
MAA Indigo Point	Brandon, FL		—			1,167		10,500		—		5,000		1,167		15,500		16,667		(10,795	)		5,872	1989	2000
MAA Brandon	Brandon, FL		—			2,896		26,111		—		9,272		2,896		35,383		38,279		(24,967	)		13,312	1998	1997
MAA Coral Springs	Coral Springs, FL		—			9,600		40,004		—		15,589		9,600		55,593		65,193		(32,102	)		33,091	1996	2004
Paddock Club Gainesville	Gainesville, FL		—			1,800		15,879		—		5,716		1,800		21,595		23,395		(12,753	)		10,642	1999	1998
Retreat at Magnolia Parke	Gainesville, FL		—			2,040		16,338		—		1,610		2,040		17,948		19,988		(7,236	)		12,752	2009	2011
MAA Heathrow	Heathrow, FL		—			4,101		35,684		—		6,131		4,101		41,815		45,916		(16,572	)		29,344	1997	2013
220 Riverside	Jacksonville, FL		—			2,381		35,514		—		9,381		2,381		44,895		47,276		(8,637	)		38,639	2015	2012
Atlantic Crossing	Jacksonville, FL		—			4,000		19,495		—		3,403		4,000		22,898		26,898		(9,074	)		17,824	2008	2011
Coopers Hawk	Jacksonville, FL		—			854		7,500		—		4,843		854		12,343		13,197		(9,551	)		3,646	1987	1995
Hunters Ridge Deerwood	Jacksonville, FL		—			1,533		13,835		—		6,282		1,533		20,117		21,650		(14,982	)		6,668	1987	1997
Lakeside	Jacksonville, FL		—			1,430		12,883		—		9,066		1,430		21,949		23,379		(17,272	)		6,107	1985	1996
Lighthouse at Fleming Island	Jacksonville, FL		—			4,047		35,052		—		6,715		4,047		41,767		45,814		(25,649	)		20,165	2003	2003
Paddock Club Mandarin	Jacksonville, FL		—			1,411		14,967		—		4,443		1,411		19,410		20,821		(11,264	)		9,557	1998	1998
MAA Mandarin Lakes	Jacksonville, FL		—			2,857		6,475		—		21,725		2,857		28,200		31,057		(14,456	)		16,601	1987/ 2008	1995
Tattersall at Tapestry Park	Jacksonville, FL		—			6,417		36,069		—		3,118		6,417		39,187		45,604		(15,105	)		30,499	2009	2011
Woodhollow	Jacksonville, FL		—			1,678		15,179		—		9,538		1,678		24,717		26,395		(19,523	)		6,872	1986	1997
MAA Lake Mary	Lake Mary, FL		—	(2)		6,346		41,539		—		26,023		6,346		67,562		73,908		(21,284	)		52,624	2012	2013
MAA Town Park	Lake Mary, FL		—			5,742		56,562		—		8,142		5,742		64,704		70,446		(26,705	)		43,741	2005	2013
MAA Town Park Reserve	Lake Mary, FL		—			3,481		10,311		—		892		3,481		11,203		14,684		(4,629	)		10,055	2004	2013
MAA Heather Glen	Orlando, FL		—			4,662		56,988		—		9,276		4,662		66,264		70,926		(25,362	)		45,564	2000	2013
MAA Randal Lakes	Orlando, FL		—			8,859		50,553		—		50,076		8,859		100,629		109,488		(20,243	)		89,245	2014/17	2013
MAA Robinson	Orlando, FL		—			6,003		—		—		91,543		6,003		91,543		97,546		(6,738	)		90,808	2021	2018
MAA Baldwin Park	Orlando, FL		—			18,101		144,200		—		5,800		18,101		150,000		168,101		(37,061	)		131,040	2011	2016
MAA Crosswater	Orlando, FL		—			7,046		52,585		—		2,586		7,046		55,171		62,217		(12,200	)		50,017	2013	2016
MAA Parkside	Orlando, FL		—			5,669		49,754		—		9,863		5,669		59,617		65,286		(14,009	)		51,277	1999	2016
MAA Lake Nona	Orlando, FL		—			7,880		41,175		—		7,730		7,880		48,905		56,785		(18,079	)		38,706	2006	2012
Sand Lake	Orlando, FL		—			7,635		—		—		55,998		7,635		55,998		63,633		(4,379	)		59,254	2021	2019
MAA Palm Harbor	Palm Harbor, FL		—			6,900		26,613		—		5,093		6,900		31,706		38,606		(15,294	)		23,312	2000	2009
Club at Panama Beach	Panama City, FL		—			893		14,276		—		5,644		893		19,920		20,813		(12,213	)		8,600	2000	1998
MAA Twin Lakes	Sanford, FL		—			3,091		47,793		—		5,190		3,091		52,983		56,074		(20,242	)		35,832	2005	2013
Paddock Club Tallahassee	Tallahassee, FL		—			1,480		4,805		—		15,014		1,480		19,819		21,299		(15,133	)		6,166	1992	1997
Verandas at Southwood	Tallahassee, FL		—			3,600		25,914		—		2,738		3,600		28,652		32,252		(8,651	)		23,601	2003	2011
MAA Belmere	Tampa, FL		—			852		7,667		—		8,185		852		15,852		16,704		(11,564	)		5,140	1984	1994
MAA Hampton Preserve	Tampa, FL		—			6,233		69,535		—		5,126		6,233		74,661		80,894		(26,641	)		54,253	2012	2013
MAA Hampton Preserve II	Tampa, FL		—			10,796		61,863		—		226		10,796		62,089		72,885		(1,000	)		71,885	2021	2022
MAA Carrollwood	Tampa, FL		—			927		7,355		—		6,969		927		14,324		15,251		(10,363	)		4,888	1980	1998
MAA Bay View	Tampa, FL		—			4,541		28,381		—		2,817		4,541		31,198		35,739		(7,670	)		28,069	1997	2016
MAA Harbour Island	Tampa, FL		—			16,296		116,193		—		18,068		16,296		134,261		150,557		(33,930	)		116,627	1997	2016
MAA Hyde Park	Tampa, FL		—			16,891		95,259		—		11,626		16,891		106,885		123,776		(26,730	)		97,046	1994	2016
MAA Rocky Point	Tampa, FL		—			35,260		153,102		—		19,619		35,260		172,721		207,981		(43,106	)		164,875	1994-1996	2016
MAA SoHo Square	Tampa, FL		—	(1)		5,190		56,296		—		1,537		5,190		57,833		63,023		(12,649	)		50,374	2012	2016
MAA Tampa Oaks	Tampa, FL		—			2,891		19,055		—		4,056		2,891		23,111		26,002		(10,868	)		15,134	2005	2008
MAA Seven Oaks	Wesley Chapel, FL		—			3,051		42,768		—		3,990		3,051		46,758		49,809		(17,816	)		31,993	2004	2013
MAA Windermere	Windermere, FL		—	(1)		2,711		36,710		—		3,615		2,711		40,325		43,036		(14,247	)		28,789	2009	2013


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2022
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
MAA Briarcliff	Atlanta, GA		—			24,614		114,921		—		8,969		24,614		123,890		148,504		(29,370	)		119,134	1996	2016
MAA Brookhaven	Atlanta, GA		—			29,048		106,463		—		12,427		29,048		118,890		147,938		(30,415	)		117,523	1989-1992	2016
MAA Brookwood	Atlanta, GA		—	(2)		11,168		52,758		—		7,631		11,168		60,389		71,557		(21,806	)		49,751	2008	2012
MAA Buckhead	Atlanta, GA		—			8,633		19,844		—		11,480		8,633		31,324		39,957		(12,048	)		27,909	2002	2012
MAA Centennial Park	Atlanta, GA		—			13,650		10,950		—		62,859		13,650		73,809		87,459		(10,838	)		76,621	2018	2016
MAA Chastain	Atlanta, GA		—			30,223		82,964		—		5,476		30,223		88,440		118,663		(21,115	)		97,548	1990	2016
MAA Dunwoody	Atlanta, GA		—			15,799		48,054		—		6,402		15,799		54,456		70,255		(13,357	)		56,898	1995	2016
MAA Gardens	Atlanta, GA		—			17,907		56,093		—		10,242		17,907		66,335		84,242		(16,456	)		67,786	1996	2016
MAA Glen	Atlanta, GA		—			13,878		51,079		—		8,196		13,878		59,275		73,153		(14,489	)		58,664	1996	2016
MAA Lenox	Atlanta, GA		—			23,876		165,572		—		5,634		23,876		171,206		195,082		(44,660	)		150,422	2006/15	2016
MAA Midtown	Atlanta, GA		—			7,000		44,000		—		41,507		7,000		85,507		92,507		(12,839	)		79,668	2017	2016
MAA Oglethorpe	Atlanta, GA		—			6,856		31,441		—		8,164		6,856		39,605		46,461		(18,083	)		28,378	1994	2008
MAA Peachtree Hills	Atlanta, GA		—			11,974		55,264		—		2,279		11,974		57,543		69,517		(13,196	)		56,321	1992-1994/2009	2016
MAA Piedmont Park	Atlanta, GA		—			11,025		34,277		—		5,966		11,025		40,243		51,268		(8,828	)		42,440	1999	2016
MAA Riverside	Atlanta, GA		—			23,765		89,369		—		11,743		23,765		101,112		124,877		(27,479	)		97,398	1996	2016
MAA Spring	Atlanta, GA		—			18,596		57,819		—		7,852		18,596		65,671		84,267		(17,444	)		66,823	1999	2016
MAA Stratford	Atlanta, GA		—			—		30,051		—		6,853		—		36,904		36,904		(9,729	)		27,175	1999	2016
MAA Berkeley Lake	Duluth, GA		—			1,960		15,707		—		3,731		1,960		19,438		21,398		(8,764	)		12,634	1998	2013
MAA McDaniel Farm	Duluth, GA		—			3,985		32,206		—		7,501		3,985		39,707		43,692		(17,379	)		26,313	1997	2013
MAA Pleasant Hill	Duluth, GA		—			6,753		32,202		—		9,022		6,753		41,224		47,977		(17,127	)		30,850	1996	2013
MAA Prescott	Duluth, GA		—			3,840		24,011		—		7,024		3,840		31,035		34,875		(18,307	)		16,568	2001	2004
MAA River Oaks	Duluth, GA		—			4,349		13,579		—		4,506		4,349		18,085		22,434		(9,518	)		12,916	1992	2013
MAA River Place	Duluth, GA		—			2,059		19,158		—		5,042		2,059		24,200		26,259		(10,317	)		15,942	1994	2013
MAA Mount Vernon	Dunwoody, GA		—			6,861		23,748		—		5,054		6,861		28,802		35,663		(11,152	)		24,511	1997	2013
MAA Lake Lanier	Gainesville, GA		—			6,710		40,994		—		12,687		6,710		53,681		60,391		(31,221	)		29,170	1998/ 2001	2005
MAA Shiloh	Kennesaw, GA		—			4,864		45,893		—		9,028		4,864		54,921		59,785		(22,042	)		37,743	2002	2013
MAA Milstead	LaGrange, GA		—			3,100		29,240		—		4,286		3,100		33,526		36,626		(11,569	)		25,057	1998	2008
MAA Barrett Creek	Marietta, GA		—			5,661		26,186		—		4,646		5,661		30,832		36,493		(14,059	)		22,434	1999	2013
Colonial Grand at Godley Lake	Pooler, GA		—			1,750		30,893		—		3,030		1,750		33,923		35,673		(13,044	)		22,629	2008	2013
Colonial Grand at Godley Station	Pooler, GA		3,861			1,800		35,454		—		5,745		1,800		41,199		42,999		(15,627	)		27,372	2001	2013
Avala at Savannah Quarters	Savannah, GA		—			1,500		24,862		—		3,264		1,500		28,126		29,626		(11,019	)		18,607	2009	2011
Colonial Grand at Hammocks	Savannah, GA		—			2,441		36,863		—		8,367		2,441		45,230		47,671		(17,115	)		30,556	1997	2013
Colonial Village at Huntington	Savannah, GA		—			2,521		8,223		—		2,932		2,521		11,155		13,676		(4,504	)		9,172	1986	2013
Georgetown Grove	Savannah, GA		—			1,288		11,579		—		4,413		1,288		15,992		17,280		(12,034	)		5,246	1997	1998
Oaks at Wilmington Island	Savannah, GA		—			2,864		25,315		—		6,568		2,864		31,883		34,747		(17,249	)		17,498	1999	2006
MAA West Village	Smyrna, GA		—			14,410		73,733		—		11,848		14,410		85,581		99,991		(25,375	)		74,616	2006/12	2014
Ranch at Prairie Trace	Overland Park, KS		—			3,500		40,614		—		3,163		3,500		43,777		47,277		(8,829	)		38,448	2015	2015
MAA Pinnacle	Lexington, KY		—			2,024		31,525		—		8,079		2,024		39,604		41,628		(23,148	)		18,480	2000	1998
MAA Lakepointe	Lexington, KY		—			411		3,699		—		2,881		411		6,580		6,991		(5,341	)		1,650	1986	1994
MAA Mansion	Lexington, KY		—			694		6,242		—		4,385		694		10,627		11,321		(8,512	)		2,809	1989	1994
MAA Village	Lexington, KY		—			900		8,097		—		5,155		900		13,252		14,152		(10,806	)		3,346	1989	1994
Stonemill Village	Louisville, KY		—			1,169		10,518		—		10,935		1,169		21,453		22,622		(16,841	)		5,781	1985	1994
Market Station	Kansas City, MO		—			5,814		46,241		—		5,063		5,814		51,304		57,118		(17,838	)		39,280	2010	2012
The Denton	Kansas City, MO		—			5,520		50,939		—		29,563		5,520		80,502		86,022		(15,043	)		70,979	2013/14/17	2015
MAA Beaver Creek	Apex, NC		—			7,491		34,863		—		4,320		7,491		39,183		46,674		(14,556	)		32,118	2007	2013
MAA Hermitage	Cary, NC		—			900		8,099		—		5,904		900		14,003		14,903		(10,466	)		4,437	1988	1997
MAA 900 Waterford	Cary, NC		—			4,000		20,250		—		5,482		4,000		25,732		29,732		(14,535	)		15,197	1996	2005
MAA 1225	Charlotte, NC		—			9,612		22,342		—		32,753		9,612		55,095		64,707		(16,535	)		48,172	2010	2010
MAA Ayrsley	Charlotte, NC		—			2,481		52,119		—		17,821		2,481		69,940		72,421		(24,224	)		48,197	2008	2013
MAA Ballantyne	Charlotte, NC		—			16,216		44,817		—		5,628		16,216		50,445		66,661		(12,287	)		54,374	2004	2016
MAA Beverly Crest	Charlotte, NC		—			3,161		24,004		—		5,652		3,161		29,656		32,817		(11,025	)		21,792	1996	2013
MAA Chancellor Park	Charlotte, NC		—			5,311		28,016		—		6,942		5,311		34,958		40,269		(13,590	)		26,679	1999	2013
MAA City Grand	Charlotte, NC		—			1,620		17,499		—		1,996		1,620		19,495		21,115		(7,031	)		14,084	2005	2013
MAA Enclave	Charlotte, NC		—			1,461		18,984		—		2,482		1,461		21,466		22,927		(7,402	)		15,525	2008	2013
MAA Gateway	Charlotte, NC		—			17,528		57,444		—		14,008		17,528		71,452		88,980		(17,261	)		71,719	2000	2016
MAA Legacy Park	Charlotte, NC		—			2,891		28,272		—		4,703		2,891		32,975		35,866		(12,704	)		23,162	2001	2013
MAA LoSo	Charlotte, NC		—			14,600		108,076		—		16,514		14,600		124,590		139,190		(1,168	)		138,022	2021	2022
MAA Prosperity Creek	Charlotte, NC		—			4,591		27,713		—		3,660		4,591		31,373		35,964		(12,399	)		23,565	2005	2013
MAA Reserve	Charlotte, NC		—			4,628		44,282		—		14,306		4,628		58,588		63,216		(13,174	)		50,042	2013	2013
MAA South Line	Charlotte, NC		—			18,835		58,795		—		5,720		18,835		64,515		83,350		(14,284	)		69,066	2009	2016
MAA South Park	Charlotte, NC		—			20,869		65,517		—		9,981		20,869		75,498		96,367		(18,620	)		77,747	1996	2016
MAA South Tryon	Charlotte, NC		—			2,260		19,489		—		3,625		2,260		23,114		25,374		(9,038	)		16,336	2002	2013
MAA University Lake	Charlotte, NC		—			3,250		31,389		—		6,746		3,250		38,135		41,385		(15,244	)		26,141	1998	2013
MAA Uptown	Charlotte, NC		—			10,888		30,078		—		7,750		10,888		37,828		48,716		(8,716	)		40,000	2000	2016
MAA Cornelius	Cornelius, NC		—			4,571		29,151		—		2,700		4,571		31,851		36,422		(13,018	)		23,404	2009	2013
MAA Patterson	Durham, NC		—			2,590		27,126		—		4,961		2,590		32,087		34,677		(12,277	)		22,400	1997	2013
MAA Research Park	Durham, NC		—			4,201		37,682		—		6,528		4,201		44,210		48,411		(16,977	)		31,434	2002	2013
MAA Duke Forest	Durham, NC		—			3,271		15,609		—		3,080		3,271		18,689		21,960		(8,246	)		13,714	1985	2013
MAA Huntersville	Huntersville, NC		—			4,251		31,948		—		4,707		4,251		36,655		40,906		(14,644	)		26,262	2008	2013
MAA Fifty-One	Matthews, NC		—			3,071		21,830		—		7,067		3,071		28,897		31,968		(12,757	)		19,211	2008	2013
MAA Matthews Commons	Matthews, NC		—			3,690		28,536		—		3,321		3,690		31,857		35,547		(12,493	)		23,054	2008	2013
MAA Arringdon	Morrisville, NC		—			6,401		31,134		—		6,114		6,401		37,248		43,649		(14,224	)		29,425	2003	2013
MAA Brierdale	Raleigh, NC		—			7,372		50,202		—		4,450		7,372		54,652		62,024		(20,473	)		41,551	2010	2013
MAA Brier Falls	Raleigh, NC		—			6,572		48,910		—		4,107		6,572		53,017		59,589		(19,323	)		40,266	2008	2013
MAA Crabtree	Raleigh, NC		—			2,241		18,434		—		3,953		2,241		22,387		24,628		(8,013	)		16,615	1997	2013


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2022
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
MAA Trinity	Raleigh, NC		—			5,232		45,138		—		6,490		5,232		51,628		56,860		(20,635	)		36,225	2000/02	2013
MAA Hue	Raleigh, NC		—			3,690		29,910		—		3,169		3,690		33,079		36,769		(10,946	)		25,823	2009	2010
MAA Wade Park	Raleigh, NC		—			19,434		98,288		—		28,989		19,434		127,277		146,711		(32,932	)		113,779	2011/17/19	2016
MAA Preserve	Raleigh, NC		—			5,831		21,980		—		28,420		5,831		50,400		56,231		(24,502	)		31,729	2004	2006
MAA Providence	Raleigh, NC		—			4,695		29,007		—		3,548		4,695		32,555		37,250		(15,711	)		21,539	2007	2008
Colonial Grand at Desert Vista	North Las Vegas, NV		—			4,091		29,826		—		3,302		4,091		33,128		37,219		(12,851	)		24,368	2009	2013
Colonial Grand at Palm Vista	North Las Vegas, NV		—			4,909		25,643		—		6,259		4,909		31,902		36,811		(12,919	)		23,892	2007	2013
Tanglewood	Anderson, SC		—			427		3,853		—		2,973		427		6,826		7,253		(5,864	)		1,389	1980	1994
1201 Midtown	Charleston, SC		—			18,679		63,759		—		18,164		18,679		81,923		100,602		(13,880	)		86,722	2015/18	2016
Colonial Grand at Cypress Cove	Charleston, SC		—			3,610		28,645		—		6,127		3,610		34,772		38,382		(12,877	)		25,505	2001	2013
Colonial Village at Hampton Pointe	Charleston, SC		—			3,971		22,790		—		9,085		3,971		31,875		35,846		(12,322	)		23,524	1986	2013
Colonial Village at Westchase	Charleston, SC		—			4,571		20,091		—		6,483		4,571		26,574		31,145		(11,364	)		19,781	1985	2013
Quarterdeck at James Island	Charleston, SC		—			920		24,097		—		8,059		920		32,156		33,076		(12,227	)		20,849	1987	2013
River's Walk	Charleston, SC		—			8,831		39,430		—		3,627		8,831		43,057		51,888		(9,365	)		42,523	2013/16	2013
Paddock Club Columbia	Columbia, SC		—			1,840		16,560		—		7,335		1,840		23,895		25,735		(17,424	)		8,311	1991	1997
Fairways	Columbia, SC		—			910		8,207		—		3,439		910		11,646		12,556		(9,802	)		2,754	1992	1994
Colonial Village at Windsor Place	Goose Creek, SC		—			1,321		14,163		—		5,080		1,321		19,243		20,564		(8,266	)		12,298	1985	2013
Highland Ridge	Greenville, SC		—			482		4,337		—		3,115		482		7,452		7,934		(5,538	)		2,396	1984	1995
Howell Commons	Greenville, SC		—			1,304		11,740		—		5,079		1,304		16,819		18,123		(13,062	)		5,061	1987	1997
Innovation	Greenville, SC		—			4,437		52,026		—		2,998		4,437		55,024		59,461		(11,962	)		47,499	2015	2016
Paddock Club Greenville	Greenville, SC		—			1,200		10,800		—		3,776		1,200		14,576		15,776		(10,897	)		4,879	1996	1997
Park Haywood	Greenville, SC		—			360		2,925		—		5,315		360		8,240		8,600		(6,487	)		2,113	1983	1993
Spring Creek	Greenville, SC		—			583		5,374		—		3,396		583		8,770		9,353		(6,834	)		2,519	1985	1995
The Greene	Greenville, SC		—			5,427		66,546		—		1,390		5,427		67,936		73,363		(6,062	)		67,301	2019	2019
Runaway Bay	Mt. Pleasant, SC		—			1,096		7,269		—		7,657		1,096		14,926		16,022		(11,415	)		4,607	1988	1995
Colonial Grand at Commerce Park	North Charleston, SC		—			2,780		33,966		—		5,990		2,780		39,956		42,736		(14,740	)		27,996	2008	2013
535 Brookwood	Simpsonville, SC		—			1,216		18,666		—		2,609		1,216		21,275		22,491		(9,172	)		13,319	2008	2010
Park Place	Spartanburg, SC		—			723		6,504		—		2,672		723		9,176		9,899		(7,319	)		2,580	1987	1997
Colonial Village at Waters Edge	Summerville, SC		—			2,103		9,187		—		5,407		2,103		14,594		16,697		(7,193	)		9,504	1985	2013
Farmington Village	Summerville, SC		—			2,800		26,295		—		3,796		2,800		30,091		32,891		(15,548	)		17,343	2007	2007
Hamilton Pointe	Chattanooga, TN		—			1,131		10,632		—		7,874		1,131		18,506		19,637		(10,094	)		9,543	1989	1992
Hidden Creek	Chattanooga, TN		—			972		8,954		—		7,380		972		16,334		17,306		(8,909	)		8,397	1987	1988
Steeplechase	Chattanooga, TN		—			217		1,957		—		4,861		217		6,818		7,035		(4,336	)		2,699	1986	1991
Windridge	Chattanooga, TN		—			817		7,416		—		5,403		817		12,819		13,636		(9,350	)		4,286	1984	1997
Kirby Station	Memphis, TN		—			1,148		10,337		—		10,975		1,148		21,312		22,460		(16,485	)		5,975	1978	1994
Lincoln on the Green	Memphis, TN		—			1,498		20,483		—		19,257		1,498		39,740		41,238		(30,300	)		10,938	1992	1994
Park Estate	Memphis, TN		—			178		1,141		—		3,922		178		5,063		5,241		(3,790	)		1,451	1974	1977
Reserve at Dexter Lake	Memphis, TN		—			3,407		16,043		—		49,127		3,407		65,170		68,577		(34,654	)		33,923	2000	1998
MAA Murfreesboro	Murfreesboro, TN		—			915		14,774		—		5,015		915		19,789		20,704		(11,825	)		8,879	1999	1998
MAA Acklen	Nashville, TN		—			12,761		58,906		—		2,580		12,761		61,486		74,247		(11,433	)		62,814	2015	2017
MAA Indian Lake	Nashville, TN		—			4,950		28,053		—		3,576		4,950		31,629		36,579		(12,092	)		24,487	2010	2011
MAA Kennesaw Farms	Nashville, TN		—			3,456		22,443		—		5,383		3,456		27,826		31,282		(11,570	)		19,712	2008	2010
MAA Brentwood	Nashville, TN		—			1,191		10,739		—		9,633		1,191		20,372		21,563		(15,116	)		6,447	1986	1994
MAA Charlotte Ave	Nashville, TN		—			7,898		54,480		—		2,782		7,898		57,262		65,160		(9,597	)		55,563	2016	2017
MAA Bellevue	Nashville, TN		—			17,193		64,196		—		8,288		17,193		72,484		89,677		(22,880	)		66,797	1996/ 2015	2013
MAA Nashville West	Nashville, TN		—			2,963		33,673		—		11,031		2,963		44,704		47,667		(24,992	)		22,675	2001	1998
MAA Monthaven Park	Nashville, TN		—			2,736		28,902		—		8,294		2,736		37,196		39,932		(22,630	)		17,302	2000	2004
MAA Park	Nashville, TN		—			1,524		14,800		—		9,574		1,524		24,374		25,898		(19,128	)		6,770	1987	1995
MAA Cool Springs	Nashville, TN		—			6,670		—		—		54,391		6,670		54,391		61,061		(14,953	)		46,108	2012	2010
MAA Sam Ridley	Nashville, TN		—			3,350		28,308		—		5,479		3,350		33,787		37,137		(14,112	)		23,025	2009	2010
MAA Balcones Woods	Austin, TX		—			1,598		14,398		—		11,762		1,598		26,160		27,758		(17,296	)		10,462	1983	1997
MAA Canyon Creek	Austin, TX		—			3,621		32,137		—		3,734		3,621		35,871		39,492		(13,724	)		25,768	2008	2013
MAA Canyon Pointe	Austin, TX		—			3,778		20,201		—		4,550		3,778		24,751		28,529		(10,202	)		18,327	2003	2013
MAA Double Creek	Austin, TX		—			3,131		29,375		—		2,248		3,131		31,623		34,754		(12,240	)		22,514	2013	2013
MAA Onion Creek	Austin, TX		—			4,902		33,010		—		4,178		4,902		37,188		42,090		(14,725	)		27,365	2009	2013
MAA Wells Branch	Austin, TX		—	(1)		3,722		32,283		—		4,040		3,722		36,323		40,045		(13,258	)		26,787	2008	2013
MAA Quarry Oaks	Austin, TX		—			4,621		34,461		—		13,484		4,621		47,945		52,566		(18,074	)		34,492	1996	2013
MAA Sunset Valley	Austin, TX		—			3,150		11,393		—		6,029		3,150		17,422		20,572		(9,644	)		10,928	1996	2004
MAA Western Oaks	Austin, TX		—	(2)		9,100		49,339		—		4,827		9,100		54,166		63,266		(19,917	)		43,349	2001	2009
MAA Barton Creek	Austin, TX		—			8,683		21,497		—		4,875		8,683		26,372		35,055		(6,606	)		28,449	1998	2016
MAA Park Mesa	Austin, TX		—			4,653		19,828		—		2,534		4,653		22,362		27,015		(5,285	)		21,730	1992	2016
MAA South Lamar	Austin, TX		—			20,542		74,093		—		28,794		20,542		102,887		123,429		(22,265	)		101,164	2011/17	2016
MAA West Austin	Austin, TX		—	(1)		7,805		48,843		—		3,450		7,805		52,293		60,098		(15,096	)		45,002	2009	2016
MAA Brushy Creek	Austin, TX		—			2,900		24,009		—		6,489		2,900		30,498		33,398		(16,710	)		16,688	2003	2006
MAA East Austin	Austin, TX		—			2,281		6,169		—		15,444		2,281		21,613		23,894		(10,641	)		13,253	1987	1995
MAA Barton Skyway	Austin, TX		—			1,405		12,769		—		13,750		1,405		26,519		27,924		(14,611	)		13,313	1977	1997
MAA Windmill Hill	Austin, TX		—			5,006		—		—		55,114		5,006		55,114		60,120		(1,399	)		58,721	N/A	2020
MAA Shoal Creek	Bedford, TX		—			4,982		27,377		—		6,145		4,982		33,522		38,504		(13,546	)		24,958	1996	2013
MAA Willow Creek	Bedford, TX		—			3,109		33,488		—		11,042		3,109		44,530		47,639		(18,055	)		29,584	1996	2013
MAA Hebron	Carrollton, TX		—			4,231		42,237		—		2,814		4,231		45,051		49,282		(16,154	)		33,128	2011	2013
MAA Cedar park	Cedar Park, TX		—			7,232		56,640		—		7,042		7,232		63,682		70,914		(23,982	)		46,932	2005	2013
Grand Cypress	Cypress, TX		—			3,881		24,267		—		4,749		3,881		29,016		32,897		(8,275	)		24,622	2008	2013
MAA Medical District	Dallas, TX		—			4,050		33,779		—		4,600		4,050		38,379		42,429		(12,937	)		29,492	2007	2013
MAA Highlands North	Dallas, TX		—			988		8,893		—		4,963		988		13,856		14,844		(9,966	)		4,878	1986	1998


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2022
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
MAA Grand Courtyards	Dallas, TX		—			2,730		22,240		—		6,749		2,730		28,989		31,719		(15,308	)		16,411	2000	2006
MAA Lowes Farm	Dallas, TX		—			5,016		41,091		—		4,317		5,016		45,408		50,424		(17,601	)		32,823	2008	2011
MAA Frisco Bridges	Dallas, TX		—			14,845		66,571		—		65,132		14,845		131,703		146,548		(30,454	)		116,094	2009/13/21	2013
MAA McKinney Avenue	Dallas, TX		—			34,765		40,127		—		11,682		34,765		51,809		86,574		(13,282	)		73,292	1993/96	2016
MAA Worthington	Dallas, TX		—			13,713		43,268		—		10,192		13,713		53,460		67,173		(12,008	)		55,165	1993/ 2008	2016
MAA Abbey	Dallas, TX		—			2,711		4,369		—		847		2,711		5,216		7,927		(1,295	)		6,632	1996	2016
MAA Addison Circle	Dallas, TX		—			12,308		189,419		—		27,846		12,308		217,265		229,573		(52,494	)		177,079	1998-2000	2016
MAA North Hall	Dallas, TX		—			13,030		14,383		—		4,139		13,030		18,522		31,552		(5,369	)		26,183	1998	2016
MAA Eastside	Dallas, TX		—			7,134		58,095		—		5,412		7,134		63,507		70,641		(16,258	)		54,383	2008	2016
MAA Gallery	Dallas, TX		—			4,391		7,910		—		2,039		4,391		9,949		14,340		(2,853	)		11,487	1999	2016
MAA Heights	Dallas, TX		—			26,245		37,922		—		5,114		26,245		43,036		69,281		(10,931	)		58,350	1998-1999/ 2009	2016
MAA Katy Trail	Dallas, TX		—			10,333		32,456		—		2,332		10,333		34,788		45,121		(7,862	)		37,259	2010	2016
MAA Legacy	Dallas, TX		—	(1)		6,575		55,277		—		6,934		6,575		62,211		68,786		(15,059	)		53,727	2000	2016
MAA Meridian	Dallas, TX		—			8,780		13,654		—		1,468		8,780		15,122		23,902		(3,952	)		19,950	1991	2016
MAA Uptown Village	Dallas, TX		—			34,974		33,213		—		9,735		34,974		42,948		77,922		(11,545	)		66,377	1995-2000	2016
MAA Watermark	Dallas, TX		—			960		14,438		—		4,462		960		18,900		19,860		(10,962	)		8,898	2002	2004
MAA Bear Creek	Euless, TX		—			6,453		30,048		—		6,339		6,453		36,387		42,840		(14,850	)		27,990	1998	2013
MAA Fairview	Fairview, TX		—			2,171		35,077		—		2,641		2,171		37,718		39,889		(13,092	)		26,797	2012	2013
MAA Starwood	Frisco, TX		—			3,240		26,069		—		3,225		3,240		29,294		32,534		(12,334	)		20,200	2009	2010
MAA Grapevine	Grapevine, TX		—			2,351		29,757		—		9,661		2,351		39,418		41,769		(14,886	)		26,883	1985/86	2013
Greenwood Forest	Houston, TX		—			3,465		23,482		—		2,756		3,465		26,238		29,703		(8,844	)		20,859	1994	2013
Legacy Pines	Houston, TX		—			2,142		19,066		—		5,175		2,142		24,241		26,383		(15,171	)		11,212	1999	2003
Park Place Houston	Houston, TX		—			2,061		15,830		—		4,787		2,061		20,617		22,678		(10,569	)		12,109	1996	2007
Post 510	Houston, TX		—			7,226		33,366		—		2,177		7,226		35,543		42,769		(9,253	)		33,516	2014	2016
Post at Afton Oaks	Houston, TX		—			11,503		65,469		—		4,776		11,503		70,245		81,748		(20,468	)		61,280	2017	2016
Post Midtown Square	Houston, TX		—			19,038		89,570		—		9,288		19,038		98,858		117,896		(24,750	)		93,146	1999/ 2013	2016
Ranchstone	Houston, TX		—			1,480		14,807		—		4,509		1,480		19,316		20,796		(9,867	)		10,929	1996	2007
Reserve at Woodwind Lakes	Houston, TX		—			1,968		19,928		—		6,288		1,968		26,216		28,184		(13,867	)		14,317	1999	2006
Retreat at Vintage Park	Houston, TX		—	(1)		8,211		40,352		—		2,942		8,211		43,294		51,505		(9,325	)		42,180	2014	2014
Yale at 6th	Houston, TX		—	(2)		13,107		62,764		—		3,280		13,107		66,044		79,151		(12,234	)		66,917	2015	2016
MAA Park Point	Houston, TX		—			9,031		—		—		45,861		9,031		45,861		54,892		(2,937	)		51,955	N/A	2018
Cascade at Fall Creek	Humble, TX		—			5,985		40,011		—		5,880		5,985		45,891		51,876		(22,501	)		29,375	2007	2007
MAA Bella Casita	Irving, TX		—			2,521		26,432		—		5,855		2,521		32,287		34,808		(12,729	)		22,079	2007	2010
MAA Valley Ranch	Irving, TX		—			5,072		37,397		—		15,799		5,072		53,196		58,268		(22,764	)		35,504	1997	2013
MAA Las Colinas	Irving, TX		—	(2)		3,902		40,691		—		4,259		3,902		44,950		48,852		(15,209	)		33,643	2006	2013
MAA Remington Hills	Irving, TX		—			4,390		21,822		—		15,976		4,390		37,798		42,188		(14,291	)		27,897	1984	2013
MAA Times Square	McKinney, TX		—			1,130		28,058		—		6,575		1,130		34,633		35,763		(14,936	)		20,827	2009	2010
MAA Stonebridge Ranch	McKinney, TX		—			4,034		19,528		—		4,295		4,034		23,823		27,857		(7,450	)		20,407	2000	2013
MAA Market Center	Plano, TX		—			16,894		110,705		—		6,835		16,894		117,540		134,434		(24,535	)		109,899	2013/15	2014
MAA Highwood	Plano, TX		—			864		7,783		—		3,971		864		11,754		12,618		(8,695	)		3,923	1983	1998
MAA Los Rios	Plano, TX		—			3,273		28,823		—		8,238		3,273		37,061		40,334		(23,072	)		17,262	2000	2003
MAA Boulder Ridge	Roanoke, TX		—			3,382		26,930		—		9,126		3,382		36,056		39,438		(20,076	)		19,362	1999	2005
MAA Copper Ridge	Roanoke, TX		—			4,166		—		—		48,957		4,166		48,957		53,123		(12,245	)		40,878	2009/20	2008
MAA Ashton Oaks	Round Rock, TX		—			5,511		36,241		—		4,384		5,511		40,625		46,136		(15,472	)		30,664	2009	2013
MAA Round Rock	Round Rock, TX		—			4,691		45,379		—		4,604		4,691		49,983		54,674		(18,627	)		36,047	1997	2013
MAA Sierra Vista	Round Rock, TX		—			2,561		16,488		—		5,529		2,561		22,017		24,578		(9,252	)		15,326	1999	2013
Alamo Ranch	San Antonio, TX		—			2,380		26,982		—		4,601		2,380		31,583		33,963		(12,997	)		20,966	2009	2011
Bulverde Oaks	San Antonio, TX		—			4,257		36,759		—		3,235		4,257		39,994		44,251		(8,876	)		35,375	2014	2014
Haven at Blanco	San Antonio, TX		—			5,411		45,958		—		5,565		5,411		51,523		56,934		(18,624	)		38,310	2010	2012
Stone Ranch at Westover Hills	San Antonio, TX		—			4,000		24,992		—		4,482		4,000		29,474		33,474		(13,243	)		20,231	2009	2009
Cypresswood Court	Spring, TX		—			576		5,190		—		5,634		576		10,824		11,400		(6,988	)		4,412	1984	1994
Villages at Kirkwood	Stafford, TX		—			1,918		15,846		—		4,985		1,918		20,831		22,749		(11,852	)		10,897	1996	2004
Green Tree Place	Woodlands, TX		—			539		4,850		—		4,735		539		9,585		10,124		(7,054	)		3,070	1984	1994
Stonefield Commons	Charlottesville, VA		—			11,044		36,689		—		2,275		11,044		38,964		50,008		(8,998	)		41,010	2013	2014
Adalay Bay	Chesapeake, VA		—			5,280		31,341		—		4,716		5,280		36,057		41,337		(13,941	)		27,396	2002	2012
Apartments at Cobblestone Square	Fredericksburg, VA		—			10,990		48,696		—		4,483		10,990		53,179		64,169		(13,532	)		50,637	2012	2016
Colonial Village at Greenbrier	Fredericksburg, VA		—			4,842		21,677		—		4,247		4,842		25,924		30,766		(9,146	)		21,620	1980	2013
Seasons at Celebrate Virginia	Fredericksburg, VA		—			14,490		32,083		—		42,108		14,490		74,191		88,681		(22,523	)		66,158	2011	2011
Station Square at Cosner's Corner	Fredericksburg, VA		—			12,825		51,078		—		3,229		12,825		54,307		67,132		(12,486	)		54,646	2013/16	2013
Colonial Village at Hampton Glen	Glen Allen, VA		—			4,851		21,678		—		4,597		4,851		26,275		31,126		(10,260	)		20,866	1986	2013
Colonial Village at West End	Glen Allen, VA		—			4,661		18,908		—		3,667		4,661		22,575		27,236		(8,778	)		18,458	1987	2013
Township in Hampton Woods	Hampton, VA		—			1,509		8,189		—		9,095		1,509		17,284		18,793		(12,605	)		6,188	1987	1995
Colonial Village at Waterford	Midlothian, VA		—			6,733		29,221		—		6,781		6,733		36,002		42,735		(14,448	)		28,287	1989	2013
Radius	Newport News, VA		—			5,040		36,481		—		5,803		5,040		42,284		47,324		(9,230	)		38,094	2012	2015
Ashley Park	Richmond, VA		—			4,761		13,365		—		4,058		4,761		17,423		22,184		(7,484	)		14,700	1988	2013
Colonial Village at Chase Gayton	Richmond, VA		—			6,021		29,004		—		5,724		6,021		34,728		40,749		(13,537	)		27,212	1984	2013
Hamptons at Hunton Park	Richmond, VA		—			4,930		35,598		—		7,249		4,930		42,847		47,777		(16,853	)		30,924	2003	2011
Retreat at West Creek	Richmond, VA		—			10,112		36,136		—		15,843		10,112		51,979		62,091		(10,159	)		51,932	2015/17	2015
Post Carlyle Square	Washington D.C.		—			29,728		154,309		—		5,829		29,728		160,138		189,866		(37,099	)		152,767	2006/13	2016
Post Corners at Trinity Center	Washington D.C.		—			7,664		70,012		—		3,955		7,664		73,967		81,631		(17,218	)		64,413	1996	2016


					Initial Cost				Costs Capitalized Subsequent to Acquisition				Gross Amount carried as of December 31, 2022
Property	Location	Encumbrances			Land		Buildings and Fixtures		Land		Buildings and Fixtures		Land		Buildings and Fixtures		Total (3)		Accumulated Depreciation (4)			Net		Date of Construction	Date Acquired
Post Fallsgrove	Washington D.C.		—			17,524		58,896		—		5,721		17,524		64,617		82,141		(15,716	)		66,425	2003	2016
MAA National Landing	Washington D.C.		—			30,452		125,091		—		17,716		30,452		142,807		173,259		(34,180	)		139,079	2001	2016
Post Tysons Corner	Washington D.C.		—			30,776		82,021		—		10,584		30,776		92,605		123,381		(21,184	)		102,197	1990	2016
Total Residential Properties			3,861			1,874,523		9,907,359		—		2,784,336		1,874,523		12,691,695		14,566,218		(4,226,114	)		10,340,104
220 Riverside Retail	Jacksonville, FL		—			119		2,902		—		923		119		3,825		3,944		(436	)		3,508	2015	2019
MAA Parkside Retail	Orlando, FL		—			742		11,924		—		1,345		742		13,269		14,011		(3,157	)		10,854	1999	2016
MAA Robinson Retail	Orlando, FL		—			—		563		—		166		—		729		729		(22	)		707	2021	2018
MAA Harbour Island Retail	Tampa, FL		—			386		4,315		—		354		386		4,669		5,055		(1,062	)		3,993	1997	2016
MAA Rocky Point Retail	Tampa, FL		—			34		51		—		406		34		457		491		(253	)		238	1994-1996	2016
MAA SoHo Square Retail	Tampa, FL		—	(1)		268		4,033		—		50		268		4,083		4,351		(1,334	)		3,017	2012	2016
MAA Buckhead Retail	Atlanta, GA		—			867		3,465		—		1,004		867		4,469		5,336		(1,420	)		3,916	2012	2012
MAA Piedmont Park Retail	Atlanta, GA		—			426		1,089		—		22		426		1,111		1,537		(273	)		1,264	1999	2016
MAA Riverside Office	Atlanta, GA		—			9,680		22,108		—		11,725		9,680		33,833		43,513		(9,232	)		34,281	1996	2016
MAA Riverside Retail	Atlanta, GA		—			889		2,340		—		2,637		889		4,977		5,866		(1,125	)		4,741	1996	2016
Post Training Facility	Atlanta, GA		—			1,092		968		—		33		1,092		1,001		2,093		(485	)		1,608	1999	2016
MAA West Village Retail	Smyrna, GA		—			3,408		8,446		—		1,704		3,408		10,150		13,558		(2,865	)		10,693	2012	2014
The Denton Retail	Kansas City, MO		—			700		4,439		—		795		700		5,234		5,934		(1,230	)		4,704	2014	2015
MAA 1225 Retail	Charlotte, NC		—			52		199		—		249		52		448		500		(192	)		308	2010	2010
MAA Gateway Retail	Charlotte, NC		—			318		1,430		—		81		318		1,511		1,829		(371	)		1,458	2000	2016
MAA South Line Retail	Charlotte, NC		—			470		1,289		—		287		470		1,576		2,046		(375	)		1,671	2009	2016
MAA Uptown Retail	Charlotte, NC		—			319		1,144		—		25		319		1,169		1,488		(278	)		1,210	1998	2016
MAA Leasing Center	Charlotte, NC		—			1,290		1,488		—		173		1,290		1,661		2,951		(405	)		2,546	1998	2016
MAA Hue Retail	Raleigh, NC		—			—		2,129		—		100		—		2,229		2,229		(330	)		1,899	2010	2018
MAA Wade Park Retail	Raleigh, NC		—			317		4,552		—		102		317		4,654		4,971		(1,445	)		3,526	2011	2016
The Greene Retail	Greenville, SC		—			—		—		—		—		—		—		—		—			—	2019	2019
MAA South Lamar Retail	Austin, TX		—			421		3,072		—		673		421		3,745		4,166		(836	)		3,330	2011	2016
MAA Frisco Bridges Retail	Dallas, TX		—			779		6,593		—		687		779		7,280		8,059		(1,959	)		6,100	2009	2016
MAA McKinney Avenue Retail	Dallas, TX		—			1,581		5,982		—		449		1,581		6,431		8,012		(1,461	)		6,551	1996	2016
MAA Worthington Retail	Dallas, TX		—			108		495		—		422		108		917		1,025		(206	)		819	1993/ 2008	2016
MAA Addison Circle Office	Dallas, TX		—			1,395		4,280		—		1,480		1,395		5,760		7,155		(1,713	)		5,442	1998-2000	2016
MAA Addison Circle Retail	Dallas, TX		—			448		21,386		—		2,561		448		23,947		24,395		(6,181	)		18,214	1998-2000	2016
MAA North Hall Retail	Dallas, TX		—			347		716		—		84		347		800		1,147		(237	)		910	1998	2016
MAA Eastside Retail	Dallas, TX		—			682		10,645		—		677		682		11,322		12,004		(2,669	)		9,335	2008	2016
MAA Heights Retail	Dallas, TX		—			1,065		3,314		—		673		1,065		3,987		5,052		(907	)		4,145	1997	2016
MAA Katy Trail Retail	Dallas, TX		—			465		4,883		—		99		465		4,982		5,447		(1,118	)		4,329	2010	2016
MAA Legacy Retail	Dallas, TX		—	(1)		150		3,334		—		446		150		3,780		3,930		(846	)		3,084	2000	2016
Post Midtown Square Retail	Houston, TX		—			1,322		16,005		—		533		1,322		16,538		17,860		(3,879	)		13,981	1999/ 2013	2016
Rise Condo Devel LP Retail	Houston, TX		—			—		2,280		—		67		—		2,347		2,347		(558	)		1,789	1999/ 2013	2016
MAA Bella Casita Retail	Irving, TX		—			46		186		—		202		46		388		434		(151	)		283	2007	2010
MAA Times Square Retail	McKinney, TX		—			253		1,310		—		4,804		253		6,114		6,367		(1,475	)		4,892	2009	2010
Post Carlyle Square Retail	Washington D.C.		—			1,048		7,930		—		120		1,048		8,050		9,098		(1,902	)		7,196	2006/16	2016
Total Retail / Commercial Properties			—			31,487		171,285		—		36,158		31,487		207,443		238,930		(52,388	)		186,542
Novel Val Vista	Phoenix, AZ		—			7,285		—		—		52,363		7,285		52,363		59,648		—			59,648	N/A	2020
Novel West Midtown	Atlanta, GA		—			7,000		—		—		65,536		7,000		65,536		72,536		—			72,536	N/A	2021
Novel Daybreak	Salt Lake City, UT		—			7,025		—		—		67,170		7,025		67,170		74,195		—			74,195	N/A	2021
MAA Milepost 35	Denver, CO		—			12,572		—		—		32,604		12,572		32,604		45,176		—			45,176	N/A	2022
MAA Nixie	Raleigh, NC		—			8,897		—		—		4,548		8,897		4,548		13,445		—			13,445	N/A	2022
MAA Breakwater	Tampa, FL		—			23,514		—		—		9,723		23,514		9,723		33,237		—			33,237	N/A	2022
Total Active Development Properties			—			66,293		—		—		231,944		66,293		231,944		298,237		—			298,237
Total Properties			3,861			1,972,303		10,078,644		—		3,052,438		1,972,303		13,131,082		15,103,385		(4,278,502	)		10,824,883
Total Land Held for Future Developments			—			64,312		—		—		—		64,312		—		64,312		—			64,312	N/A	Various
Total Properties in Predevelopment			—			36,061		—		—		6,205		36,061		6,205		42,266		—			42,266	N/A	Various
Corporate Properties			—			—		36,695		—		—		—		36,695		36,695		(24,245	)		12,450	Various	Various
Total Other			—			100,373		36,695		—		6,205		100,373		42,900		143,273		(24,245	)		119,028
Total Real Estate Assets, net of Real Estate Joint Venture		$	3,861		$	2,072,676	$	10,115,339	$	—	$	3,058,643	$	2,072,676	$	13,173,982	$	15,246,658	$	(4,302,747	)	$	10,943,911

(1)

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

(2)

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

(3)

The aggregate cost for federal income tax purposes was approximately $12.2 billion (unaudited) as of December 31, 2022. 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.

(4)

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 approximately six months for the fair market value of in-place residential leases.

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

Schedule III — Real Estate and Accumulated Depreciation

Years ended December 31, 2022, 2021 and 2020

The following table summarizes the Company’s changes in real estate investments and accumulated depreciation for the years ended December 31, 2022, 2021 and 2020 (dollars in thousands):


	2022			2021			2020
Real estate investments:
Balance at beginning of year	$	14,704,237		$	14,338,895		$	13,898,707
Acquisitions (1)		272,342			44,086			56,327
Less: fair market value of leases included in acquisitions		(1,505	)		—			—
Improvement and development		469,661			506,775			437,268
Disposition of real estate assets (2)		(198,077	)		(185,519	)		(53,407	)
Balance at end of year	$	15,246,658		$	14,704,237		$	14,338,895
Accumulated depreciation:
Balance at beginning of year	$	3,848,161		$	3,415,105		$	2,955,253
Depreciation		540,708			531,848			508,746
Disposition of real estate assets (2)		(86,122	)		(98,792	)		(48,894	)
Balance at end of year	$	4,302,747		$	3,848,161		$	3,415,105

(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.