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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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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-06-01 00:00:00",
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  "pageNumber": 25,
  "pageCount": 36,
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  "density": "overcrowded",
  "nDataPoints": 40,
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      "text": "DEBT MATURITY PROFILE ($ IN MILLIONS) AT 3/31/2023\nWeighted Average Interest Rate 3.4%\n100% Total Debt is Fixed Rate\nDebt¹\n$349.7 2023 8.0%\n$399.0 2024 9.1%\n$401.6 2025 9.1%\n$297.4 2026 6.8%\n$596.7 2027 13.6%\n$396.8 2028 9.0%\n$558.7 2029 12.7%\n$297.6 2030 6.8%\n$445.2 2031 10.1%\n2032 0%\n$652.8 2033+ 14.9%",
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      "kind": "source-note",
      "text": "1 MAA calculations as specifically defined in Mid-America Apartments, L.P.'s debt agreements\n2 Sector average represents publicly disclosed sector equivalent.\n3 Sector constituents include AVB, CPT, EQR, ESS and UDR; data is from 1Q 2023 company filings.\n4 Adjusted EBITDAre in this calculation represents the trailing twelve-month period ended March 31, 2023. A reconciliation of the following items and an expanded discussion of their respective components can\nbe found in the accompanying Appendix: (i) EBITDA, EBITDAre and Adjusted EBITDAre to Net income; and (ii) Net Debt to Unsecured notes payable and Secured notes payable.\n5 Core FFO Payout Ratio is defined here as most recently declared dividend annualized divided by the midpoint of company guidance for full year 2023 Core FFO/Share per 1Q 2023 company filings.",
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      "text": "1 Debt excluding unsecured revolving credit facility and unsecured commercial paper program. There were no borrowings outstanding under the revolving credit facility or the commercial paper\nprogram as of March 31, 2023.",
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      "text": "CREDIT METRICS AT 3/31/2023\nTotal debt / adjusted total assets¹ 27.8% 30.6%\nTotal secured debt / adjusted total assets¹ 2.3% 4.8%\nUnencumbered NOI / total NOI 95.1% 91.4%\nNet Debt / Adjusted EBITDAre4 3.50x 4.89x\nConsolidated income available for debt service to total annual debt service charge¹ 7.5x 6.1x\nWeighted average maturity of debt (in years) 7.7 7.2\nCore FFO Payout Ratio5 61.5% 64.5%",
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      "kind": "title",
      "text": "Balance Sheet Strength Positions Us Well for Future Growth Opportunities",
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      "evidence": "The presentation highlights MAA's strong, investment-grade balance sheet and balance sheet strength.",
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