Post Properties, Inc. was a publicly-traded real estate investment trust headquartered in Atlanta, Georgia that invested in apartments. As of December 31, 2015, the company owned interests in 24,162 apartment units in 61 communities. In 2016, the company was acquired by Mid-America Apartment Communities.
Video Post Properties
History
The company was founded in 1971 by John A. Williams (1943-2018) and Douglas Bates.
On July 15, 1993, the company became a public company via an initial public offering.
While the company initially developed garden-style apartments, it shifted its focus to mixed-use infill developments in 1998.
In 1997, the company acquired Columbus Realty Trust, which owned 7,526 apartment units, in a $600 million transaction.
In 1999, the company established an initiative to wire its apartments for high speed internet access.
In January 2001, David Stockert was named president and chief operating officer of the company.
In 2001, the company received $99 million from the sale of 2 apartment complexes near Dallas, Texas and a land parcel in Charlotte, North Carolina. The company also entered into a joint venture with the New York State Common Retirement Fund to develop a property in Pasadena, California.
In 2002, the company sold 3 properties in Texas and Florida for approximately $86 million.
In 2002, founder John A. Williams resigned as CEO of the company. In 2004, he resigned from the board of directors of the company after losing a proxy battle.
In 2005, the company converted an apartment complex in Atlanta to 121 condominium units.
In early 2016, the company went through a re brand effort with updated signage and marketing material. At this time it also unveiled separate logos for Post Eco-Active and Post Hope, an eco effort for communities and its non-profit branch, respectively.
Effective May 2016, chief financial officer Mark Papa resigned to take a position with Liberty Property Trust.
In December 2016, the company was acquired by Mid-America Apartment Communities.
Maps Post Properties
References
Source of article : Wikipedia
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