Post Apartment Homes, L.P. Announces Pricing of $150 Million 4.75% Notes Due 2017
13 Ottobre 2010 - 11:01PM
Business Wire
Post Apartment Homes, L.P., the operating subsidiary of Post
Properties, Inc. (NYSE: PPS), announced today that it has priced a
public offering of $150 million aggregate principal amount of
senior unsecured notes due 2017. The notes will bear interest at a
rate of 4.75% and are being offered to investors at a price of
$998.59 per $1,000 in principal amount. The closing of the offering
is scheduled to occur on October 18, 2010, subject to customary
closing conditions.
About Post Properties
Post Properties, founded more than 39 years ago, is a leading
developer and operator of upscale multifamily communities. The
Company’s mission is delivering superior satisfaction and value to
its residents, associates, and investors, with a vision of being
the first choice in quality multifamily living. 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. Post Properties is headquartered in Atlanta,
Georgia, and has operations in nine markets across the country.
Post Properties owns interests in 19,863 apartment units in 55
communities, including 1,747 apartment units in five communities
held in unconsolidated entities and 396 apartment units in one
community currently in lease-up. In addition, the Company recently
commenced the development of one community containing 344 apartment
units. The Company is also developing and selling 277 luxury
for-sale condominium homes in two communities through a taxable
REIT subsidiary.
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