Post Properties Announces New Stock and Note Repurchase Program
03 Dicembre 2010 - 3:42PM
Business Wire
Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced that its Board of Directors
adopted a new stock and note repurchase program under which Post
may repurchase up to an aggregate of $200 million of Post’s common
stock or preferred stock or its operating partnership’s senior
unsecured notes from time to time until December 31, 2012. The new
stock and note repurchase program replaces programs that are
currently in place through the end of 2010.
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 has interests in 20,207 apartment units in 56
communities, including 1,747 apartment units in five communities
held in unconsolidated entities, 396 apartment units in one
community currently in lease-up and 344 apartment units in one
community currently under construction. 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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