| Assets | — | — |
| Real estate assets | — | — |
| Land | 2,096,912a | 2,031,403a |
| Buildings and improvements and other | 14,160,799a | 13,515,949a |
| Development and capital improvements in progress | 470,282a | 385,405a |
| Less: accumulated depreciation | -5,327,584a | -4,864,690a |
| Undeveloped land | 73,359a | 73,861a |
| Investment in real estate joint venture | 41,650a | 41,977a |
| Real estate assets, net | 11,515,418a | 11,183,905a |
| Cash and cash equivalents | 43,018a | 41,314a |
| Restricted cash | 13,743a | 13,777a |
| Other assets | 232,426a | 245,507a |
| Assets held for sale | 7,764a | 0a |
| Total assets | 11,812,369a | 11,484,503a |
| Liabilities and equity | — | — |
| Liabilities | — | — |
| Unsecured notes payable | 4,620,690a | 4,180,084a |
| Secured notes payable | 360,267a | 360,141a |
| Accrued expenses and other liabilities | 683,748a | 645,156a |
| Total liabilities | 5,664,705a | 5,185,381a |
| Redeemable common stock | 22,230a | 19,167a |
| Shareholders’ equity | — | — |
| Preferred stock | 9a | 9a |
| Common stock | 1,166a | 1,168a |
| Additional paid-in capital | 7,417,453a | 7,399,921a |
| Accumulated distributions in excess of net income | -1,469,557a | -1,298,263a |
| Accumulated other comprehensive loss | -6,940a | -8,764a |
| Total MAA shareholders’ equity | 5,942,131a | 6,094,071a |
| Noncontrolling interests - OP Units | 155,409a | 163,128a |
| Total Company’s shareholders’ equity | 6,097,540a | 6,257,199a |
| Noncontrolling interests - consolidated real estate entities | 27,894a | 22,756a |
| Total equity | 6,125,434a | 6,279,955a |
| Total liabilities and equity | 11,812,369a | 11,484,503a |