The company acquired two properties in 2023, MAA Central Ave (323 units) and MAA Optimist Park (352 units). This is a decrease from previous years indicating a more selective approach to acquisitions.

The company incurred $198.2 million in development costs and completed one development project. This demonstrates a continued commitment to growing the portfolio through development.

The company invested in smart home technology at many apartment communities and continued its property repositioning program. This shows a commitment to enhancing existing properties and adding value for residents.

The average physical occupancy for the Same Store segment was 95.6%, a slight decrease from 95.8% in the prior year. This indicates some pressure on occupancy levels.

Average effective rent per unit for the Same Store segment increased by 7.0%, indicating successful revenue management and pricing strategies.

The company continues to maintain a diversified portfolio across the Southeast, Southwest, and Mid-Atlantic regions, with a mix of urban, suburban, and inner-loop submarkets. This strategy aims to mitigate operating performance volatility.

The 10K filing states that unfavorable market and economic conditions may significantly affect our occupancy levels, our rental rates and collections, the value of our properties and our ability to acquire or dispose of properties on economically favorable terms.

The 10K filing states that our ability to make payments on our debt and to make distributions depends on our ability to generate cash flow in excess of operating costs and capital expenditure requirements and/or to have access to the markets for debt and equity financing.

The 10K filing states that many of our apartment communities are located along or near coastal areas that have historically been subject to the risk of extreme weather events. To the extent climate change causes changes in weather patterns, areas where many of our communities are located could experience more frequent and intense extreme weather events and rising sea levels, which may cause significant damage to our properties, disrupt our operations and adversely impact our residents.

The 10K filing states that competition for new residents is generally intense across all of our markets. Some competing apartment communities offer features that our apartment communities do not have or may be deemed to be in a more desirable location within the market.

The 10K filing states that we are generally well-positioned to compete effectively for residents and acquisition and development opportunities. We believe our competitive advantages include: a fully integrated organization with property management, development, redevelopment, acquisition, marketing, sales and financing expertise; scalable operating and support systems, which include automated systems to meet the changing technological needs of our residents and associates.

The 10K filing states that moving forward, we plan to continue our focus on optimizing lease expiration management, current and prospective resident engagement, expense control and resident retention efforts and also to align employee incentive plans with our performance.

Property operating expenses increased to $768.1 million, a 6.1% increase compared to $723.7 million in the prior year. This increase was primarily driven by a 6.5% increase in the Same Store segment.

The 10K filing states that Investment in technology continues to drive operating efficiencies in our business and helps us to better meet the changing needs of our residents.

The 10K filing states that we believe our competitive advantages include: scalable operating and support systems, which include automated systems to meet the changing technological needs of our residents and associates.

The 10K filing states that Investment in technology continues to drive operating efficiencies in our business and helps us to better meet the changing needs of our residents.

The 10K filing states that As of December 31, 2023, we have completed installation of smart home technology at more than 90% of our existing apartment units and are employing smart home technology in all of our new developments.

The 10K filing states that we believe our competitive advantages include: scalable operating and support systems, which include automated systems to meet the changing technological needs of our residents and associates.

The 10K filing states that as of December 31, 2023, no shares have been repurchased under the authorization.

The 10K filing states that our capital requirements depend on numerous factors, including the occupancy and turnover rates of our apartment communities, development and capital expenditures, costs of operations and potential acquisitions.

The 10K filing states that we plan to continue using unsecured debt to take advantage of the lower cost of capital and flexibility provided by these markets.

The 10K filing states that Third-party expectations relating to environmental, social and governance factors may impose additional costs and expose us to new risks.

The 10K filing states that We may face reputational damage in the event that our corporate responsibility standards do not meet the standards set by various stakeholders.

The 10K filing states that adoption of laws and regulations designed to address climate change and its effects, including, for example, “green” building codes, could increase our costs of development and cause delays in the construction of our development communities.

The 10K filing states that Demand for apartments in our markets was solid during the fourth quarter of 2023, as evidenced by prospect traffic levels and the revenue growth achieved during the quarter.

The 10K filing states that While our rent growth, occupancy and turnover trends in the fourth quarter of 2023 were solid, we continue to monitor pressures surrounding housing supply, inflation trends and general economic conditions.

The 10K filing states that Access to the financial markets remains available for high-credit rated borrowers, such as ourselves. However, overall borrowing costs remain at elevated levels and we expect this trend to continue.