Mid-America Apartment Communities Inc., a Memphis-based real estate investment trust, has completed an offering of 6.2 million shares of 8.30% series H cumulative redeemable preferred stock at $25 per share.Mid-America said the total number of shares included the full exercise of a 600,000-share overallotment option by the underwriters. The net proceeds of approximately $150.1 million will be used to redeem all the outstanding shares of the company's 9.5% series A cumulative preferred stock, the 8 7/8% series B cumulative preferred stock, and the 9 3/8% series C cumulative redeemable preferred stock, Mid-America said. Mid-America can be found online at http://www.maac.net.
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