Profile: Post Properties Inc (PPS)
29 Jul 2016
Post Properties, Inc., incorporated on January 25, 1984, is a self-administrated and self-managed equity real estate investment trust (REIT). The Company, through its subsidiaries, develops, owns and manages upscale multi-family apartment communities in selected markets in the United States. The Company is the general partner and owns an interest in the Post Apartment Homes, L.P. (the Operating Partnership) which, through its subsidiaries, conducts the on-going operations of the Company. The Company's segments include Fully stabilized (same store) communities, which includes apartment communities that have been stabilized (the earlier of the point at which a property reaches approximately 95% occupancy or one year after completion of construction) for both the current and prior year; Newly stabilized communities, which includes communities that reached stabilized occupancy in the prior year; Lease-up communities, which includes communities that are under development, rehabilitation and in lease-up but were not stabilized by the beginning of the current year, including communities that stabilized during the current year; Acquired communities, which include communities acquired in the current or prior year, and Held for sale and sold communities, which include apartment and mixed-use communities classified as held for sale or sold.
The Company's operating communities are located in the Atlanta, Georgia, Dallas, Texas, the greater Washington, and Tampa, Florida metropolitan areas. The Company has interests in approximately 24,160 apartment units in over 60 communities, including over 1,470 apartment units in over four communities held in unconsolidated entities and approximately 2,630 apartment units in over five communities under development or in lease-up. The Company's operating divisions include Post Apartment Management, Post Construction and Property Services, Post Investment Group and Post Corporate Services.
Post Apartment Management
The Post Apartment Management division includes the day-to-day operations of all Post communities, including community leasing and property management. Post Apartment Management also conducts short-term corporate apartment leasing activities.
Post Construction and Post Property Services
The Post Construction and Post Property Services division oversees all construction and physical asset maintenance activities of the Company. This includes for all Post communities.
Post Investment Group
The Post Investment Group division is engaged in the development, acquisition, rehabilitation, disposition and asset management activities of the Company. For development, this includes site selection, zoning and regulatory approvals, and project design. The Company is also involved in apartment community acquisitions, as well as property dispositions and strategic joint ventures. The Company recommends and executes value added renovations and redevelopments of existing communities.
Post Corporate Services
The Post Corporate Services division provides executive direction and control to the Company's other divisions and subsidiaries. It is also engaged in the creation and implementation of all Company financing, capital and risk management strategies. All accounting, management reporting, compliance, information systems, human resources, personnel recruiting, training, legal, security, risk management and insurance services required by the Company and all of its affiliates are centralized in Post Corporate Services division.
Post Properties Inc
4401 Northside Pkwy NW Ste 800
ATLANTA GA 30327-3093