Post Properties

Last updated
Post Properties, Inc.
Industry Apartments
FateAcquired by Mid-America Apartment Communities
Founded1971;49 years ago (1971)
DefunctDecember 1, 2016;3 years ago (2016-12-01)
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)
Website www.postproperties.com/   OOjs UI icon edit-ltr-progressive.svg
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

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]

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References

  1. 1 2 "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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