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.[1] In 2016, the company was acquired by Mid-America Apartment Communities.
| Industry | Apartments |
|---|---|
| Founded | 1971 |
| Defunct | December 1, 2016 |
| Fate | Acquired by Mid-America Apartment Communities |
| Headquarters | Atlanta, Georgia |
Key people | David Stockert, President & CEO |
| Revenue | $0.384 billion (2015) |
| $0.080 billion (2015) | |
| Total assets | $2.271 billion (2015) |
| Total equity | $1.243 billion (2015) |
Number of employees | 650 (2015) |
| Footnotes / references [1] | |
History
editThe company was founded in 1970 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 January 2001, David Stockert was named president and chief operating officer of the company.[6]
In 2002, founder John A. Williams resigned as CEO of the company.[7] In 2004, he resigned from the board of directors of the company after losing a proxy battle.[8]
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.[9]
In December 2016, the company was acquired by Mid-America Apartment Communities.[10][11]
References
edit- ^ a b "Post Properties, Inc. 2015 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ Sams, Douglas (April 16, 2018). "Atlanta apartment king John A. Williams, founder of Post Properties, has died". American City Business Journals.
- ^ Chappell, Carisa (July 15, 2013). "Post Properties Witnesses 20 years of Change Since IPO". National Association of Real Estate Investment Trusts.
- ^ Sinderman, Martin (May 4, 1998). "Post now embracing 'new urbanism' movement". American City Business Journals.
- ^ "Post Properties, Columbus Realty to merge". American City Business Journals. August 4, 1997.
- ^ "Stockert brings Wall Street experience to Post". American City Business Journals. March 5, 2001.
- ^ Smith, Ray A. (March 27, 2002). "Post Properties Founder Williams To Step Down From the CEO Post". The Wall Street Journal.
- ^ "John Williams resigns from Post Properties board, leaves company". American City Business Journals. August 27, 2004.
- ^ "IQ Agency | Case Study | Post Properties Rebrand". iqagency.com. Retrieved 2018-04-27.
- ^ "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.