Company:Post Properties
| Industry | Apartments |
|---|---|
| Fate | Acquired |
| Founded | 1971 |
| Headquarters | Atlanta, Georgia, United States |
Key people | David Stockert, President and Chief Executive Officer[1] |
| Revenue |  United States dollar 0.384 billion (2015)[1] |
 United States dollar 0.080 billion (2015)[1] | |
| Total assets | United States dollar 2.271 billion (2015)[1] |
| Total equity | United States dollar 1.243 billion (2015)[1] |
Number of employees | 650 (2015) |
Post Properties, Inc. was a publicly-traded real estate investment trust headquartered in Atlanta, Georgia that invested in apartments.[1] As of December 31, 2015, the company owned interests in 24,162 apartment units in 61 communities.[1] In 2016, the company was acquired by Mid-America Apartment Communities.
History
The company was founded in 1971 by John A. Williams (1943-2018) and Douglas Bates.[2]
On July 15, 1993, the company became a public company via an initial public offering.[3]
While the company initially developed garden-style apartments, it shifted its focus to mixed-use infill developments in 1998.[4]
In 1997, the company acquired Columbus Realty Trust, which owned 7,526 apartment units, in a $600 million transaction.[5]
In 1999, the company established an initiative to wire its apartments for high speed internet access.[6]
In January 2001, David Stockert was named president and chief operating officer of the company.[7]
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.[8] The company also entered into a joint venture with the New York State Common Retirement Fund to develop a property in Pasadena, California.[9]
In 2002, the company sold 3 properties in Texas and Florida for approximately $86 million.[10]
In 2002, founder John A. Williams resigned as CEO of the company.[11] In 2004, he resigned from the board of directors of the company after losing a proxy battle.[12]
In 2005, the company converted an apartment complex in Atlanta to 121 condominium units.[13]
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.[14]
Effective May 2016, chief financial officer Mark Papa resigned to take a position with Liberty Property Trust.[15]
In December 2016, the company was acquired by Mid-America Apartment Communities.[16][17]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Post Properties, Inc. 2015 Form 10-K Annual Report
- ↑ Barnes, Peter (November 30, 2015). "A Must-Read Company Overview of Post Properties". Market Realist. http://marketrealist.com/2015/11/must-read-company-overview-post-properties/.
- ↑ Chappell, Carisa (July 15, 2013). "Post Properties Witnesses 20 years of Change Since IPO". National Association of Real Estate Investment Trusts. https://www.reit.com/news/articles/post-properties-witnesses-20-years-change-ipo.
- ↑ Sinderman, Martin (May 4, 1998). "Post now embracing `new urbanism' movement". American City Business Journals. https://www.bizjournals.com/atlanta/stories/1998/05/04/focus12.html.
- ↑ "Post Properties, Columbus Realty to merge". American City Business Journals. August 4, 1997. https://www.bizjournals.com/atlanta/stories/1997/08/04/daily2.html.
- ↑ Blalock, Rick (July 5, 1999). "Post apartments being wired for Internet access". American City Business Journals. https://www.bizjournals.com/atlanta/stories/1999/07/05/focus5.html.
- ↑ "Stockert brings Wall Street experience to Post". American City Business Journals. March 5, 2001. https://www.bizjournals.com/atlanta/stories/2001/03/05/focus9.html.
- ↑ "Post Properties sells 2 Dallas-area apartments". American City Business Journals. June 25, 2001. https://www.bizjournals.com/dallas/stories/2001/06/25/daily3.html.
- ↑ "Post Properties closes on California joint venture". American City Business Journals. November 26, 2001. https://www.bizjournals.com/atlanta/stories/2001/11/26/daily3.html.
- ↑ Booker, Reggie (April 29, 2002). "Three Posted". CoStar Group. http://www.costar.com/News/Article/Three-Posted/38392.
- ↑ Smith, Ray A. (March 27, 2002). "Post Properties Founder Williams To Step Down From the CEO Post". The Wall Street Journal. https://www.wsj.com/articles/SB1017181544636207800.(Subscription content?)
- ↑ "John Williams resigns from Post Properties board, leaves company". American City Business Journals. August 27, 2004. https://www.bizjournals.com/atlanta/stories/2004/08/23/daily38.html.
- ↑ "Post Peachtree to get condo makeover". American City Business Journals. April 12, 2005. https://www.bizjournals.com/atlanta/stories/2005/04/11/daily11.html.
- ↑ "IQ Agency | Case Study | Post Properties Rebrand" (in en-US). https://iqagency.com/case_study/post-properties-rebrand/.
- ↑ "Post Properties Announces Christopher J. Papa to Step Down as Chief Financial Officer" (Press release). PR Newswire. May 9, 2016.
- ↑ "MAA and Post complete merger" (Press release). PR Newswire. December 1, 2016.
- ↑ "MAA and Post Properties to merge in $17 billion combination" (Press release). PR Newswire. August 15, 2016.
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