MAA · 8-K · 20261028PR436173

Liquidity and Debt Position

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-10-28 · Importance 61 · Surprise 32 · From source text

MAA reported $660.7 million of combined cash and available capacity under its unsecured revolving credit facility at September 30, 2026. Total debt was $5.839 billion, up from $5.405 billion at December 31, 2025, and net debt was $5.814 billion. Net Debt/Adjusted EBITDAre increased to 4.7x from 4.3x, while the average effective interest rate was 4.1%, fixed-rate debt was 79.3% of total debt, and average debt maturity was 5.6 years. MAALP had $350.0 million outstanding on its delayed draw term loan, which matures in November 2030 and has an accordion feature up to $550 million.

Key facts

• MAALP's delayed draw term loan facility is scheduled to mature in November 2030 and has an uncommitted accordion feature allowing total unsecured indebtedness to increase to $550.0 million. source
• MAALP borrowed an additional $250.0 million under its unsecured delayed draw term loan facility during the third quarter of 2026, bringing outstanding borrowings to $350.0 million as of September 30, 2026. source
• As of September 30, 2026, MAA had $660.7 million of combined cash and available capacity under MAALP's unsecured revolving credit facility. source
• MAA's total debt outstanding was $5.8 billion as of September 30, 2026, with an average effective interest rate of 4.1%, 79.3% fixed-rate debt, and an average maturity of 5.6 years. source
• MAA's total debt was $5.839 billion as of September 30, 2026, compared with $5.405 billion as of December 31, 2025. source
• MAA's net debt to Adjusted EBITDAre was 4.7x as of September 30, 2026, compared with 4.3x as of December 31, 2025. source

Impact estimates