Profile: Post Properties Inc (PPS)
2 Mar 2015
Post Properties, Inc., incorporated on January 25, 1984, is a self-administrated and self-managed equity real estate investment trust (REIT). The Company along with its subsidiaries develops, owns and manages upscale multi-family apartment communities in selected markets in the United States. The Company, through its wholly owned subsidiaries, is the general partner and owns a majority interest in the Operating Partnership which, through its subsidiaries, conducts substantially all of the on-going operations of the Company. As of December 31, 2013, approximately 30.0%, 22.6%, 14.0% and 10.1% (on a unit basis) of the Company’s operating communities were located in the Atlanta, Georgia, Dallas, Texas, the greater Washington, D.C. and Tampa, Florida metropolitan areas, respectively. As of December 31, 2013, the Company had interests in 22,516 apartment units in 60 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 1,620 apartment units in five communities under development or in lease-up. The major operating divisions of the Company include Post Apartment Management, Post Construction and Property Services, Post Investment Group and Post Corporate Services.
Post Apartment Management
Post Apartment Management is responsible for 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 and is the largest division in the Company, based on the number of employees.
Post Construction and Post Property Services
Post Construction and Post Property Services are responsible for overseeing all construction and physical asset maintenance activities of the Company. This includes for all Post communities.
Post Investment Group
Post Investment Group is responsible for all development, acquisition, rehabilitation, disposition, for-sale (condominium) and asset management activities of the Company. For development, this includes site selection, zoning and regulatory approvals and project design. This division is also responsible for apartment community acquisitions as well as property dispositions and strategic joint ventures that the Company undertakes as part of its investment strategy. The division recommends and executes major value added renovations and redevelopments of existing communities.
Post Corporate Services
Post Corporate Services provides executive direction and control to the Company’s other divisions and subsidiaries and has responsibility for 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 and development, legal, security, risk management and insurance services required by the Company and all of its affiliates are centralized in Post Corporate Services.
Post Properties Inc
SUITE 800, 4401 NORTHSIDE PARKWA
ATLANTA GA 30327