MAA, Colonial To Merge Into $8.6B UPREIT

Law360, New York (June 3, 2013, 12:28 PM EDT) -- Mid-America Apartment Communities Inc. and Colonial Properties Trust will join forces in a deal valued at $8.6 billion, merging into an umbrella partnership real estate investment trust and ramping up their collective competitive edge in the Sunbelt region, the companies announced Monday.

The new company will keep MAA's name, their union bringing together 85,000 apartment units and creating the second largest publicly traded REIT portfolio of owned apartments,  according to a joint statement from the companies. The UPREIT will have a combined total market capitalization of...
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