GERMANTOWN, Tenn., Sept. 25,
2024 /PRNewswire/ -- Mid-America Apartment
Communities, Inc., ("MAA") (NYSE: MAA) today announced the
appointment of Sheila K. McGrath to
the Board of Directors. The appointment of Ms. McGrath, along
with the previous election of John
Case and Tamara Fischer at
the May 2024 Annual Meeting of
Shareholders, was executed under the Board of Director's long-term
succession plan to pre-emptively address three planned director
retirements in 2025, in line with our director refreshment
endeavors. While the mid-term appointment will temporarily increase
the size of the board to thirteen, the Board of Directors believes
allowing for overlap between outgoing and incoming directors
provides a more stable and seamless transition. The Board of
Directors currently plans to allow the board to reduce in size
following the three planned retirements in 2025. Ms. McGrath
was also appointed to the Compensation Committee and Real Estate
Investment Committee and will serve as an independent director
until the 2025 Annual Meeting of Shareholders.
Commenting on the appointment, H. Eric
Bolton, Jr., Chairman of the Board of Directors and Chief
Executive Officer, said "We are delighted to welcome Sheila to our
board of directors. She brings extensive knowledge and expertise
surrounding the REIT sector and is a strong addition to our
board. Her strong financial skills and real estate experience,
coupled with three decades of hands-on involvement in the REIT
industry, will further support the continuity of MAA's ability to
deliver superior long-term value growth and performance for all of
our company constituents."
Ms. McGrath served as Senior Managing Director at Evercore ISI
covering U.S. equity REITs, real estate operating companies, and
Mexican real estate investment vehicles from 2012 until 2022. Prior
to joining Evercore, she served as Managing Director and Sector
Head for REIT research at Keefe, Bruyette & Woods from 2007
until 2012. During that time, Ms. McGrath was a member of the
firm's Research Review Committee and Leadership Committee. Between
1994 and 2007, Ms. McGrath was an equity research analyst covering
REITs and real estate operating companies at several firms,
including Smith Barney and UBS. She began her career in 1989 as a
commercial real estate appraiser valuing commercial real estate
properties across various sectors and conducting new development
feasibility studies.
Ms. McGrath also serves on the boards of Alexandria Real Estate
Equities, Inc. and Granite Point Mortgage Trust, Inc. She is an
active member of several industry organizations, including Nareit,
where she currently serves on the Advisory Board of Governors and
Real Estate Investment Advisory Council, having previously served
on the Best Financial Practices Council. Ms. McGrath is a founding
member and continues to serve on the Board of Advisors for Rutgers
Business School's Center for Women in Business. She received a
Bachelor of Arts in Economics from Lafayette
College and a Master of Business Administration in Finance
and Real Estate from Rutgers
University.
About MAA
MAA, an S&P 500 company, is a
self-administered real estate investment trust (REIT) focused on
delivering strong, full-cycle investment performance for
shareholders through the ownership, management, acquisition,
development and redevelopment of apartment communities primarily in
the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please
refer to www.maac.com or contact Investor Relations at
investor.relations@maac.com.
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SOURCE MAA