Post Properties

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Post Properties, Inc.
Type Public (NYSEPPS)
Industry Real Estate Investment Trust
Founded 1971
Headquarters Atlanta, Georgia
Key people David Stockert, President and CEO
Employees 784 (2007)
Website www.postproperties.com

Post Properties, Inc. (NYSE: PPS) 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.[1]

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.[2][3]

History[edit]

Post Properties was founded in Atlanta in 1971 by John A. Williams and Douglas Bates, and initially developed and managed primarily garden-style apartments.[4] 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.[5]

Post became a public company in the summer of 1993,[6] 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.[7]

Since 2000, Post has balanced its portfolio with garden, mixed-use[8] and urban apartment communities[9] as well as condominium developments.[10] To achieve this balance, the company has sold some of its assets,[11] entered into joint ventures on development projects,[12] and made acquisitions in other key markets.

John Williams left the company in 2004.[13] Today, Post Properties is led by David P. Stockert, who joined the company in 2001 and serves as its president and CEO.[14]

Divisions[edit]

  • Post Apartment Homes
  • Post Preferred Homes
  • Post Corporate Apartments
  • Post Investment Group
  • Post Landscape
  • Post Maintenance
  • Post Commercial Leasing

Post HOPE Foundation[edit]

The Post HOPE Foundation is a 501(c)(3) nonprofit that functions as the employee giving and charitable distribution arm of Post.[15] It is responsible for facilitating employee service projects, coordinating employee giving programs and assisting with employee fundraising efforts.[16]

Green Initiatives[edit]

In 2008, Post launched its green initiative Post EcoActiveTM. The EcoActive program received a Green Services Award from Multi-Housing News, recognizing Post's commitment to conserving natural resources. The award highlighted the Post EcoActive recycling program in particular. Recycling centers are available in all Post markets for residents to recycle everything from newspaper to glass, aluminum, steel and plastic. Nationally, Post's Recycling Centers collect 840 tons of newspaper, glass and aluminum on a national basis. All carpet is recyclable and collected at the end of its life rather than taken to the landfill.[17] [18]

References[edit]

External links[edit]