Post Properties

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.

Post Properties, Inc.
IndustryApartments
FateAcquired by Mid-America Apartment Communities
Founded1971 (1971)
DefunctDecember 1, 2016 (2016-12-01)
HeadquartersAtlanta, 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

The 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
  1. "Post Properties, Inc. 2015 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. Sams, Douglas (April 16, 2018). "Atlanta apartment king John A. Williams, founder of Post Properties, has died". American City Business Journals.
  3. Chappell, Carisa (July 15, 2013). "Post Properties Witnesses 20 years of Change Since IPO". National Association of Real Estate Investment Trusts.
  4. Sinderman, Martin (May 4, 1998). "Post now embracing `new urbanism' movement". American City Business Journals.
  5. "Post Properties, Columbus Realty to merge". American City Business Journals. August 4, 1997.
  6. "Stockert brings Wall Street experience to Post". American City Business Journals. March 5, 2001.
  7. Smith, Ray A. (March 27, 2002). "Post Properties Founder Williams To Step Down From the CEO Post". The Wall Street Journal.
  8. "John Williams resigns from Post Properties board, leaves company". American City Business Journals. August 27, 2004.
  9. "IQ Agency | Case Study | Post Properties Rebrand". iqagency.com. Retrieved 2018-04-27.
  10. "MAA and Post complete merger" (Press release). PR Newswire. December 1, 2016.
  11. "MAA and Post Properties to merge in $17 billion combination" (Press release). PR Newswire. August 15, 2016.
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