When we founded The Mid-America Management Corporation in 1967, we had the objective of aggressively building and managing a comprehensive portfolio of income producing real estate. Today, our holdings exceed $500 million in total asset value and include multi-family, retail, and industrial properties located in twelve states.
Our success has been the result of our adherence to two fundamental principles: strong management and the maintenance of a sound relationship with the financial community. A skilled and dedicated management team is at the heart of our operation. Our talented professionals strive to maximize the cash flow of our existing properties and to rapidly evaluate and successfully implement the acquisition of additional properties. It is through strong management that we enhance the value of our holdings and hence, the return to all of our stakeholders, including investors, employees, local communities, tenants and lenders.
Our close ties with local and institutional lenders enable us to respond quickly to favorable acquisition opportunities. These relationships with lenders also allow us to enhance the investment yield on our existing portfolio as market situations permit.
Looking to the future, we will continue to maintain and strive to enhance the business policies and practices that have created our success. We will continue to grow by making opportune acquisitions of existing income producing properties.