| Post Properties Inc. 8.5% Series A Pfd. | (NY: PPS-PA) |
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May 24, 2013
Post Properties, founded in 1971, is one of the largest developers and operators of upscale multifamily communities in the United States. Operating as a real estate investment trust ("REIT"), the company focuses on developing and managing Post-branded resort-style garden and high density urban apartments. In addition, the company develops condominiums and converts existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia, and has operations in 10 markets across the country.
Post Properties owns 21,190 apartment homes in 58 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 1,736 apartment units in five communities currently under construction and/or in lease-up. The company is also developing and selling 361 for-sale condominium homes in three communities (including 129 units in one community held in an unconsolidated entity) and is converting apartment units in two communities initially consisting of 349 units into for-sale condominium homes through a taxable REIT subsidiary.
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