MAA · 8-K · 20260804PR332847

Liquidity and Debt Position

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-08-04 · Importance 69 · Surprise 42 · No source text

At June 30, 2026, MAA reported $5.692 billion of total debt, $51.836 million of cash and cash equivalents, and $5.640 billion of net debt. Debt represented 31.2% of adjusted total assets, net debt was 4.5 times adjusted EBITDAre, and 87% of total debt was fixed rate with a 3.9% average interest rate. MAA issued $200 million of unsecured senior notes at an effective 4.61% rate, entered a $350 million unsecured delayed-draw term loan maturing in November 2030, and expects one additional bond issuance in 2026 for external growth or refinancing.

Key facts

• Issued $200M unsecured senior notes at effective rate of 4.61% (reopening FEB 2026) source
• Entered into $350M unsecured delayed-draw term loan at a variable rate, maturing November 2030 (effective JUN 2026) source
• Common Equity value at 6/30/2026: $16.5B; Total Debt + Preferred: $5.7B source
• Net Debt at 6/30/2026: $5,640,065 (Total debt $5,691,901 less cash and cash equivalents $51,836) source
• Adjusted EBITDAre for twelve months ended June 30, 2026: $1,242,171 source
• Debt issuance: Expect 1 additional bond issuance in 2026 for external growth/refinancing source
• Debt + Preferred/Total Capitalization: 25.8% as of 6/30/2026 source
• Total Debt maturing profile percentages include 18.2%,10.6%,7.0%,9.8%,5.3%,7.9%,7.0%,10.5%,6.1%,6.1%,11.5% shown (debt maturity profile at 6/30/2026) source

Impact estimates