Friday, September 3, 2010

Mid-America Apartment Communities, Inc. Announces Dallas Acquisition - The Venue at Stonebridge Ranch

MEMPHIS, TN/PRNewswire/ -- Mid-America Apartment Communities, Inc. (NYSE:MAA) has completed the acquisition of The Venue at Stonebridge Ranch, a high-quality 250-unit apartment community located in the Dallas, Texas MSA.

The Venue at Stonebridge Ranch is located in the largest master planned community in North Texas in the Dallas suburb of McKinney.

 The community includes a gated entrance, resort-style pool with area WiFi and garages. The apartment homes feature oversized garden bathtubs, walk in showers, walk in closets and double vanity sinks in select units.

MAA acquired the community, which was developed in 2000, with plans to contribute it to Mid-America Multifamily Fund II, LLC, MAA's joint venture with private capital.

Commenting on the announcement, Al Campbell, EVP and CFO said, "We are excited to add another community in the McKinney suburb to our Dallas portfolio. We believe this community provides an attractive opportunity for Fund II and allows us to further utilize the combination of the joint venture structure with our operating platform to create value for our shareholders."

The acquisition was funded by borrowings under existing credit facilities and common stock issuances through MAA's at-the-market program.

CONTACT: Investor Relations of Mid-America Apartment Communities,
+1-901-682-6600, or
Web Site:

Grubb & Ellis Commercial Florida Negotiates Long-term Lease for new Primetime Sports Pub & Grill in Downtown Orlando

ORLANDO, FL -- Grubb & Ellis Commercial Florida, associated with 130 Grubb & Ellis offices worldwide, recently completed a new long-term lease agreement for Primetime Sports Pub & Grill at the 100 E. Pine St. building in downtown Orlando.

The space is the former home of The Clubhouse, and Primetime will be filling the void that was created with the closing of The Clubhouse by offering the only true sports restaurant and bar atmosphere in downtown Orlando.

The restaurant and bar has a goal of opening for business very soon. “This is something we’ve been working on since early summer, and we are on pace to be open for football season in September,” adds Leo Bitetto, a principal of Primetime.

Aaron Gray, (middle right photo)  associate at Grubb & Ellis Commercial Florida, negotiated the 65-month lease on behalf of the new tenant who leased 4,083 square feet of retail space on the ground floor of the six-story building near the intersection of S. Magnolia Ave.

Robert Kellogg,  (lower left photo) CCIM, vice president of Office Services at Grubb & Ellis Commercial Florida participated in the transaction on behalf of the landlord, 100 East Pine Street LLC of Orlando.

Aaron Gray, 407-481-5397,
Jeff Sweeney, 407-481-5387,
Larry Vershel 407-644-4142