Powered by

New apartment supply could hurt Mid-America's occupancy in '19, CEO says

Feb 01, 2019 - SNL Real Estate Daily
Financial Results

Developers of apartment properties may offer more aggressive incentives to attract tenants in 2019, hurting Mid-America Apartment Communities Inc.'s ability to fill its own properties, the company's CEO said.

Faced with competition from new properties, the company intends to maintain its rent growth but may sacrifice some occupancy in the process, Chairman, President and CEO H. Eric Bolton said in an earnings conference call. The company expects average daily occupancy in 2019 of 95.9%, do...