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million sale of Woodstream, a 304-uniy property in North Carolina. It recorded totao gains of $1.4 million from the Jan. 15 The self-managed real estate investment trust reportef net incomeof $7.9 million, or 28 centsd per diluted common share for the quarter ending Marcyh 31, a 79.5 percentg increase compared to net income of $4.4 million, or 17 centsa per diluted common share, for the firsg quarter of 2008. It also reported funds from operationsof $30.7 million, or $1.01 per dilutede share, for the first a 14.1 percent increase compared to FFO of $26.0 million, or 96 cents per dilutesd share, in the same year-ago period.
Mid-Americ completed the renovation of 516 apartments in the first quarted at an average costof $4,280 per with rent increases averaging 9 percent. Memphis-base d Mid-America (NYSE: MAA) owns or has ownership interesyin 42,252 apartment units throughouyt the Sunbelt region of the U.S.
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