Post Properties

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Post Properties, Inc.
IndustryApartments
FateAcquired by Mid-America Apartment Communities
Founded1971; 48 years ago (1971)
DefunctDecember 1, 2016; 2 years ago (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)
Websitewww.postproperties.com/ Edit this on Wikidata
Footnotes / references
[1]

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.

History[edit]

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[edit]

  1. ^ a b "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.