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Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023
--- | --- | ---
Assets |  |  |
Land |  | $ 2,050,760 | $ 2,031,403
Buildings and improvements and other |  | 13,846,434 | 13,515,949
Development and capital improvements in progress |  | 391,366 | 385,405
Real Estate Investment Property, at Cost |  | 16,288,560 | 15,932,757
Less: Accumulated depreciation |  | (5,149,781) | (4,864,690)
Real Estate Investment Property, Net |  | 11,138,779 | 11,068,067
Undeveloped land |  | 73,861 | 73,861
Investment in real estate joint venture |  | 41,753 | 41,977
Real estate assets, net |  | 11,254,393 | 11,183,905
Cash and cash equivalents |  | 62,831 | 41,314
Restricted cash |  | 13,669 | 13,777
Other assets |  | 231,974 | 245,507
Total assets |  | 11,562,867 | 11,484,503
Liabilities: |  |  |
Unsecured notes payable |  | 4,340,660 | 4,180,084
Secured notes payable |  | 360,204 | 360,141
Accrued expenses and other liabilities |  | 655,984 | 645,156
Total liabilities |  | 5,356,848 | 5,185,381
Redeemable common stock |  | 19,787 | 19,167
Shareholders' equity: |  |  |
Preferred stock, value, outstanding |  | 9 | 9
Common stock, value, outstanding | [1] | 1,166 | 1,168
Additional paid-in capital |  | 7,409,258 | 7,399,921
Accumulated distributions in excess of net income |  | (1,398,993) | (1,298,263)
Accumulated other comprehensive loss |  | (7,775) | (8,764)
Total MAA shareholders' equity |  | 6,003,665 | 6,094,071
Noncontrolling interests - Operating Partnership units |  | 157,905 | 163,128
Total Company’s shareholders’ equity |  | 6,161,570 | 6,257,199
Noncontrolling interests - consolidated real estate entities |  | 24,662 | 22,756
Operating Partnership capital: |  |  |
Accumulated other comprehensive loss |  | (7,775) | (8,764)
Noncontrolling interests - consolidated real estate entities |  | 24,662 | 22,756
Total equity |  | 6,186,232 | 6,279,955
Total liabilities and equity |  | 11,562,867 | 11,484,503
Limited Partnership [Member] |  |  |
Assets |  |  |
Land |  | 2,050,760 | 2,031,403
Buildings and improvements and other |  | 13,846,434 | 13,515,949
Development and capital improvements in progress |  | 391,366 | 385,405
Real Estate Investment Property, at Cost |  | 16,288,560 | 15,932,757
Less: Accumulated depreciation |  | (5,149,781) | (4,864,690)
Real Estate Investment Property, Net |  | 11,138,779 | 11,068,067
Undeveloped land |  | 73,861 | 73,861
Investment in real estate joint venture |  | 41,753 | 41,977
Real estate assets, net |  | 11,254,393 | 11,183,905
Cash and cash equivalents |  | 62,831 | 41,314
Restricted cash |  | 13,669 | 13,777
Other assets |  | 231,974 | 245,507
Total assets |  | 11,562,867 | 11,484,503
Liabilities: |  |  |
Unsecured notes payable |  | 4,340,660 | 4,180,084
Secured notes payable |  | 360,204 | 360,141
Accrued expenses and other liabilities |  | 655,984 | 645,156
Total liabilities |  | 5,356,867 | 5,185,400
Redeemable common stock |  | 19,787 | 19,167
Shareholders' equity: |  |  |
Accumulated other comprehensive loss |  | (7,922) | (8,942)
Total Company’s shareholders’ equity |  | 6,161,551 | 6,257,180
Noncontrolling interests - consolidated real estate entities |  | 24,662 | 22,756
Operating Partnership capital: |  |  |
Preferred Units, Preferred Partners' Capital Accounts |  | 66,840 | 66,840
General Partners' Capital Account | [2] | 5,944,728 | 6,036,154
Limited Partners' Capital Account | [2] | 157,905 | 163,128
Accumulated other comprehensive loss |  | (7,922) | (8,942)
Noncontrolling interests - consolidated real estate entities |  | 24,662 | 22,756
Total equity |  | 6,186,213 | 6,279,936
Total liabilities and equity |  | 11,562,867 | 11,484,503
Limited Partnership [Member] | Related Party [Member] |  |  |
Liabilities: |  |  |
Due to general partner |  | $ 19 | $ 19
[1] | Number of shares issued and outstanding represents total shares of common stock regardless of classification on the Condensed Consolidated Balance Sheets. The number of shares classified as redeemable common stock on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 are 138,746 and 142,546, respectively.
[2] | Number of units outstanding represents total OP Units regardless of classification on the Condensed Consolidated Balance Sheets. The number of units classified as redeemable common units on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 are 138,746 and 142,546, respectively.

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