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Mid-America Group history
Mid-America Group company history timeline
Originally created by Congress in 1960, REITs were designed like mutual funds, a way for small investors to become involved in real estate.
In 1970 he attended a real estate conference where he said he "discovered" the apartment business.
For many real estate firms, converting to REITs allowed them to escape massive levels of debt and to recapitalize. As a result, dozens of real estate companies began to go public in 1993, staking out their claims on different segments of the market.
By the end of 1994 the REIT added 32 communities containing more than 8,500 apartments, making Mid-America one of the six largest apartment REITs and the fastest growing REIT in the country.
When 1995 came to a close, as a result, total revenues increased to $95 million and net income topped $9.8 million.
Because the Flournoy deal was completed late in the year it did not have much impact on the bottom line in 1997.
Revenues approached $233 million in 2001 and net income totaled $28.7 million.
In September 2002 he would also succeed Cates as Mid-America's chairman.
Obermark, Jerome, "Board of Memphis, Tenn.-based Real-Estate Investment Trusts Elects New Chief," Commercial Appeal (Memphis, Tenn.), September 11, 2002.
Demand for apartment housing picked up in 2004, and net income improved to $25.2 million in what was a very good year for Mid-America, which also added about $200 million in high-quality properties to its portfolio.
"Mid-America Apartment Communities, Inc. ." International Directory of Company Histories, Volume 85. . Retrieved June 22, 2022 from Encyclopedia.com: https://www.encyclopedia.com/reference/dictionaries-thesauruses-pictures-and-press-releases/mid-america-apartment-communities-inc
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Mid-America Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Keller Williams Asheville | 1999 | $3.1M | 40 | 7 |
| London Square | 2010 | $321.4M | 114 | - |
| Manning & Napier | 1970 | $145.6M | 300 | 6 |
| So Cal Properties | - | $230,000 | 4 | 12 |
| Midway | 1968 | $219.6M | 750 | 11 |
| #1 Properties | 1984 | $290,000 | 6 | - |
| Scully Company | - | $8.6M | 125 | 23 |
| Towne & Country Real Estate Group | - | $620,000 | 50 | - |
| Broad Street Realty | 2001 | $42.2M | 61 | - |
| Four Star Homes | 1982 | $8.5M | 150 | 1 |
Mid-America Group history FAQs
Zippia gives an in-depth look into the details of Mid-America Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Mid-America Group. The employee data is based on information from people who have self-reported their past or current employments at Mid-America Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Mid-America Group. The data presented on this page does not represent the view of Mid-America Group and its employees or that of Zippia.
Mid-America Group may also be known as or be related to Mid America Group, Mid-America Group, Mid-America Group LTD and Mid-america Group.