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Mid-America, Post to Merge for Largest Apartment REIT

MEMPHIS and ATLANTA—The combined company will have 105,000 apartment units located primarily in the Southeast and Southwest, with a market cap of about $17 billion.

By Paul Bubny | paulbubny | Updated on August 15, 2016

MAA CEO H. Eric Bolton Bolton says the merger will create “the leading apartment real estate platform focused on the high-growth Sunbelt region of the country.”

MEMPHIS and ATLANTA—Confirming published reports, Mid-America Apartment and Post Properties said Monday they had entered a definitive merger agreement that will create the largest publicly traded REIT portfolio in the sector. The all-stock deal is valued at about $4 billion, and the combined company is expected to have a pro forma equity market capitalization of approximately $12 billion and a total market cap of approximately $17 billion.

The merger brings together two complementary multifamily portfolios with a combined asset base consisting of approximately 105,000 multifamily units in 317 properties, located primarily across the Southeast and Southwest. The ten largest markets by unit count for the combined company, which will trade under the MAA name and be headquartered in Memphis, will be Atlanta, Dallas, Austin, Charlotte, Raleigh, Orlando, Tampa, Fort Worth, Houston and Washington, DC.

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