{ "docId": "019de515-f9e3-70c0-b0bb-ea4a0335a462", "docSlug": "ef9db7e8e9e6e56f598523ab4c763cdb", "documentTitle": "Mid-America Apartment Communities | Investor Conference Presentation Deck | 36 slides", "authorId": "mid-america-apartment-communities", "authorName": "MAA", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-06-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2938006, "pageNumber": 11, "pageCount": 36, "prevPage": 10, "nextPage": 12, "slideType": "propose_solution", "function": "propose_solution", "density": "overcrowded", "nDataPoints": 16, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de515-f9e3-70c0-b0bb-ea4a0335a462/11", "deckHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462", "deckJsonHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462.json", "deckAnchorHref": "/decks/019de515-f9e3-70c0-b0bb-ea4a0335a462#slide-11", "components": [ { "bbox": { "h": 0.07, "w": 0.15, "x": 0.76, "y": 0.35 }, "kind": "callout", "text": "MAA's rent price point, appealing to a large segment of the rental market", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "11809ce4-4ec2-4893-bc46-5e24188c73c3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.24, "x": 0.62, "y": 0.27 }, "kind": "callout", "text": "a level of protection against supply pressure", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "188a2cf6-32a3-4788-bd0e-c764978c4fc4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.26, "x": 0.603, "y": 0.508 }, "kind": "callout", "text": "MAA's High Demand Band\nMAA's rent profile appeals to the broadest band of renters within our markets.\nWith rents on average ~25% less than new supply coming in; the effects of new supply are lessened.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a4e9fae1-cb18-43df-81c2-f80cf8363050", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.12, "x": 0.61, "y": 0.35 }, "kind": "callout", "text": "MAA's extensive market and submarket diversification", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fece5ef2-ba74-4954-a9bf-825e706e84db", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.29, "w": 0.46, "x": 0.096, "y": 0.378 }, "kind": "chart", "text": "YoY Change in Same-Store Effective Asking Rents 1,2", "attrs": null, "subkind": "line", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d627fd63-c76c-4d3c-b7ec-9da8cbfd37f8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.803, "x": 0.084, "y": 0.709 }, "kind": "list", "text": "MAA rents average approximately $350/unit less than new supply in our submarkets; driving a better value proposition for the prospective renter and appealing to a larger segment of the renter market\nMAA submarket diversification within markets helps mitigate effect of urban-focused supply wave\nEX: Nashville: Central Nashville, MAA's highest-supply submarket for 2023, impacts 599 MAA units; Sumner County, which has no scheduled deliveries for 2023 and less than 3% of existing unit deliveries expected in 2024, represents 1,044 MAA units", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ad18326a-86b5-42f2-a087-4e6c06a49cd6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.103, "w": 0.43, "x": 0.118, "y": 0.24 }, "kind": "paragraph", "text": "Supply pressure in our markets is not new. MAA markets faced higher levels of supply compared to national levels before and during the pandemic. In fact, some of the markets with the strongest rent growth captured by MAA over the past few years have been in markets with the highest new supply deliveries", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3591f69d-7ab8-4abb-8c02-c64502560c4c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.689, "x": 0.084, "y": 0.888 }, "kind": "source-note", "text": "1 Data from RealPage Market Analytics\n2 12 Highest-Supplied Sunbelt Markets: Charlotte, Austin, Nashville, Raleigh/Durham, Dallas, San Antonio, Orlando, Houston, Jacksonville, Fort Worth, Atlanta and Phoenix. Core Coastal Gateway Markets: New York/North New Jersey, Boston, Washington, DC, Los Angeles and San Francisco (includes San Jose and Oakland)", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4b2d3623-dff3-4a9b-b44d-b22bbdbb449f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.76, "x": 0.103, "y": 0.103 }, "kind": "title", "text": "MAA Uniquely Positioned to Handle Pockets of Supply Pressure", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f272e7e2-a141-42f4-8a74-c7cdc1cd0434", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "2x2 matrix", "slug": "matrix-2x2", "agent": null, "layer": "slide", "matchId": "4dc018c4-fde9-453e-b06e-9d7b63a13636", "evidence": "callout/primary: MAA's High Demand Band\nMAA's rent profile appeals to the broadest band of renters within our markets.", "confidence": 0.5 } ], "frameworks": [], "arcBeats": [ { "to": 11, "from": 4, "beatId": "434c10bd-748f-45bf-ac42-269dff3a8e46", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Solution", "beatSlug": "sequoia-pitch-solution", "evidence": "MAA proposes creating value through the full market cycle, highlighting its unique diversification and balance.", "position": 1, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" }, { "to": 14, "from": 10, "beatId": "8b11aa58-3dcb-45a2-8f84-a7fc582f3299", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Product", "beatSlug": "sequoia-pitch-product", "evidence": "MAA showcases its affluent resident profile, diversified employment, and affordable rents, leading to solid rent growth opportunity and strong collections.", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "loops": [ { "to": 20, "from": 11, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "c39e147e-55c3-4815-bdaa-67186620ee03", "evidence": "The presentation discusses MAA's development program, unit interior upgrades, and repositioning of select properties.", "position": 0, "objective": "To show how MAA is uniquely positioned to handle pockets of supply pressure", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }