Post Properties

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Post Properties, Inc.
Public (NYSEPPS)
Founded 1971
Headquarters Atlanta, Georgia
Key people

David Stockert (President and CEO)

industry = Real Estate Investment Trust
Number of employees
650 (2015)
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 and operates as a real estate investment trust (REIT).[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]

References[edit]

External links[edit]