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  "documentTitle": "Mid-America Apartment Communities | Investor Conference Presentation Deck | 36 slides",
  "authorId": "mid-america-apartment-communities",
  "authorName": "MAA",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-06-01 00:00:00",
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      "text": "Same Store NOI Growth Year Over Year¹\n2020: MAA 1.2%, Multifamily Peers -5.1% (630 bps spread)\n2021: MAA 6.2%, Multifamily Peers -2.4% (860 bps spread)\n2022: MAA 17.1%, Multifamily Peers 13.7% (340 bps spread)\n2023F: MAA 6.3%, Multifamily Peers 5.1% (120 bps spread)",
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          "2020",
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      "text": "Core FFO per Share Growth Year Over Year¹\n2020: MAA 2.7%, Multifamily Peers -4.5% (720 bps spread)\n2021: MAA 9.0%, Multifamily Peers -1.5% (1,050 bps spread)\n2022: MAA 21.3%, Multifamily Peers 18.1% (320 bps spread)\n2023F: MAA 7.2%, Multifamily Peers 5.1% (210 bps spread)",
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          "2020",
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          "-4.5%",
          "-1.5%",
          "2.7%",
          "5.1%",
          "7.2%",
          "9.0%",
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          "21.3%"
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      },
      "kind": "list",
      "text": "MAA continues to deliver on its mission to drive long-term outperformance through all phases of the economic cycle with less volatility",
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      },
      "kind": "list",
      "text": "We are in a strong position to take advantage of opportunities that will continue to enhance shareholder value",
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      "kind": "list",
      "text": "Our outperformance compared to Multifamily Peers² during the latest down cycle and recovery period positions us well for continued positive results in 2023 despite expected economic headwinds.",
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      "kind": "paragraph",
      "text": "PROVEN OUTPERFORMANCE\nSignificant Spread During Latest Period of\nVolatility and Distress",
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      },
      "kind": "source-note",
      "text": "1 As reported full year Same Store NOI and Core Funds from Operations per Share year over year growth",
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      "kind": "source-note",
      "text": "2 Multifamily Peers include: AVB, CPT, EQR, ESS and UDR",
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      "kind": "source-note",
      "text": "SOURCE: Company Filings",
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      "kind": "title",
      "text": "Strong Performance Through the Full Economic Cycle",
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      "evidence": "MAA showcases its affluent resident profile, diversified employment, and affordable rents, leading to solid rent growth opportunity and strong collections.",
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      "bestFor": "Urgent budget requests, compliance, risk mitigation",
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      "evidence": "The presentation discusses MAA's development program, unit interior upgrades, and repositioning of select properties.",
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