TALLAHASSEE, FL-Memphis-based Mid-America Apartment CommunitiesInc. has purchased Verandas at SouthWood, a gated apartmentcommunity consisting of 300 units on Capital Circle next to theCapital Circle Office Complex of the State of Florida. The propertywas purchased for an undisclosed price.

MAA purchased the apartment community through a joint venturewith Mid-America Multifamily Fund II LLC. Verandas at SouthWood wasconstructed in 2003. The joint venture will take control of anexisting loan on the property.For the full story, go to Memphis Business Journal.

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