UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
October 1, 2001
Date of Report (Date of earliest event reported)
MID-AMERICA APARTMENT COMMUNITIES, INC.
(Exact Name of Registrant as Specified in Charter)
TENNESSEE 1-12762 62-1543819
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification Number)
6584 POPLAR AVENUE, SUITE 300
MEMPHIS, TENNEESSEE 38138
(Address of principal executive offices)
(901) 682-6600
(Registrant's telephone number, including area code)
(Former name or address, if changed since last report)
ITEM 9. Regulation FD
On October 1, 2001, Mid-America Apartment Communities, Inc. issued the following
press release.
Memphis, TN October 1, 2001. Mid-America Apartment Communities, Inc. (NYSE: MAA)
Under the formal succession plan previously announced, H. Eric Bolton, Jr.
became President and Chief Executive Officer today. Bolton (44) succeeds as CEO
from George E. Cates (64). Cates remains as Chairman of MAA.
Cates said "As we have disclosed over the course of the past three years, this
succession and transition has been long planned and has now been implemented
successfully. The Board and I, with full trust in Eric's proven leadership, are
confident that he will lead Mid-America to great performance in all areas."
Bolton noted, "We have a deep and tremendously experienced management team. We
have built a solid team of professionals and organizational capabilities, which
put us in a strong position to build upon our 25-year history to generate future
success and share value. I'm excited about our opportunities and look forward to
building upon our solid foundation."
MAA is a self-administered, self-managed apartment-only real estate investment
trust which owns or has ownership interest in 33,459 apartment units throughout
the southeast, south central and in Texas, including 189 units in the
development pipeline. For further details, please refer to our website at
www.maac.net or contact Simon R. C. Wadsworth at (901) 682-6668, ext. 105. 6584
Poplar Ave., suite 300, Memphis, TN 38138.
Certain matters in this press release may constitute forward-looking statements
within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E
of the Securities and Exchange Act of 1934. Such statements include, but are not
limited to, statements made about anticipated growth rate of revenues and
expenses at Mid-America's properties, anticipated lease-up (and rental
concessions) at development properties, costs remaining to complete development
properties, planned disposition, disposition pricing, and planned acquisitions
and developments. Actual results and the timing of certain events could differ
materially from those projected in or contemplated by the forward-looking
statements due to a number of factors, including a downturn in general economic
conditions or the capital markets, competitive factors including overbuilding or
other supply/demand imbalances in some or all of our markets, construction
delays that could cause new and add-on apartment units to reach the market later
than anticipated, changes in interest rates and other items that are difficult
to control such as insurance rates, increases in real estate taxes in many of
our markets, as well as the other general risks inherent in the apartment and
real estate businesses. Reference is hereby made to the filings of Mid-America
Apartment Communities, Inc., with the Securities and Exchange Commission,
including quarterly reports on Form 10-Q, reports on Form 8-K, and its annual
report on Form 10-K, particularly including the risk factors contained in the
latter filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchnage Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MID-AMERICA APARTMENT COMMUNITIES, INC.
Date: October 1, 2001 /s/Simon R.C. Wadsworth
Simon R.C. Wadsworth
Executive Vice President
(Principal Financial and Accounting Officer)