Post Properties
Encyclopedia
Post Properties, Inc. is a developer and operator of multifamily communities, including resort-style garden apartments and high-density urban apartments. Operating as a real estate investment trust
(REIT), the company also develops condominiums and converts existing apartments into condominiums.
Post Properties is headquartered in Atlanta, and has operations in nine markets across the country. The company employs approximately 600 people and owns approximately 20,000 apartment homes.
Post became a public company
in the summer of 1993, with its initial public offering (IPO) priced at $25.50 per share. In August 1997, Post announced a merger with Columbus Realty Trust. The $600 million company based in Dallas, Texas expanded Post's holdings by more than a third, from just over 21,000 units to more than 29,000.
Since 2000, Post has balanced its portfolio with garden, mixed-use and urban apartment communities as well as condominium
developments. To achieve this balance, the company has sold some of its assets, entered into joint ventures on development projects, and made acquisitions in other key markets.
John Williams left the company in 2004. Today, Post Properties is led by David P. Stockert, who joined the company in 2001 and serves as its president and CEO.
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
(REIT), the company also develops condominiums and converts existing apartments into condominiums.
Post Properties is headquartered in Atlanta, and has operations in nine markets across the country. The company employs approximately 600 people and owns approximately 20,000 apartment homes.
History
Post Properties was founded in Atlanta in 1971 by John A. Williams, and initially developed and managed primarily garden-style apartments. In the late 1980s, Post shifted its focus from garden apartments and began to also explore urban "in-fill locations,” areas in once-vacant urban centers that were beginning to become residential again. In the 1990s, the company also began developing mixed-use properties, combining residential units, retail and, sometimes, office space.Post became a public company
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
in the summer of 1993, with its initial public offering (IPO) priced at $25.50 per share. In August 1997, Post announced a merger with Columbus Realty Trust. The $600 million company based in Dallas, Texas expanded Post's holdings by more than a third, from just over 21,000 units to more than 29,000.
Since 2000, Post has balanced its portfolio with garden, mixed-use and urban apartment communities as well as condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
developments. To achieve this balance, the company has sold some of its assets, entered into joint ventures on development projects, and made acquisitions in other key markets.
John Williams left the company in 2004. Today, Post Properties is led by David P. Stockert, who joined the company in 2001 and serves as its president and CEO.
Divisions
- Post Apartment Homes
- Post Preferred Homes
- Post Corporate Apartments
- Post Investment Group
- Post Landscape
- Post Maintenance
- Post Commercial Leasing