About Post Services, Inc

Post Properties offers Southerners a place to hang their hats, but also shows Yankees some down-home hospitality. The self-administered and self-managed real estate investment trust (REIT) owns, develops, and manages upscale multi-family apartment communities mostly in Atlanta, Dallas, Tampa, and Washington, DC, with additional holdings in New York, North Carolina, and other markets in Florida and Texas. Operating through Post Apartment Homes, the REIT owns over 60 communities with more than 24,000 apartment units. Post Properties also acts as a property manager and provides furnished, short-term corporate apartments in several markets. Mid-America Apartment Communities is buying Post for $3.9 billion.


Post Properties owned 61 communities with 24,162 apartment units (as of early 2016), including four communities with 1,471 units held in unconsolidated entities and seven communities with 2,630 units under development or in lease-up. About 88% of the REIT's revenue came from fully-stabilized communities during 2015, while another 5% came from newly-stabilized communities.

Geographic Reach

The REIT's largest markets are in Atlanta and Dallas, where 30% and 22% of its apartment units were located at the end of 2015, respectively. Other top markets included the Greater Washington DC area (13% of units); Tampa, Florida (10%); Charlotte, North Carolina (8%); Orlando (6%); Houston (4%); Austin, Texas (4%); and Raleigh, North Carolina (2%).

Financial Performance

Post Properties' annual revenues have risen 30% since 2011 as new property acquisitions and rental rate increases have spurred additional rental income. The REIT's net income has nearly tripled over the same period as it has kept a lid on operating cost growth and has generated gains from property sales as property valuations have increased.

Post's revenues climbed 2% to $384 million during 2015 thanks to a 2.3% increase in the average monthly rental rate per apartment unit, including a 5% increase on renewed leases and a 1.4% increase on new leases.

Despite revenue and operating income growth in 2015, the REIT's net income fell more than 60% to $81 million mostly because in 2014 it had generated $187.8 million more in property sale gains than it did in 2015. Post Properties' operating cash levels rose 6% to $173.2 million mostly as it collected more in cash-based rental income and paid less in interest expense as it carried less long-term debt.


Post Properties focuses on targeting high-quality, high-occupancy, low-average age apartment communities in large and rapidly-growing cities in the Sunbelt and Mid-Atlantic regions of the US. Its top 10 markets as of early 2016 were in Atlanta, Dallas, the Greater DC area, Tampa, Charlotte, Orlando, Houston, Austin, and Raleigh. The REIT's ideal properties are located near markets with high employment, as well as near retail, restaurant, and entertainment amenities.

In 2016 the REIT agreed to be acquired by another residential property owner, Mid-America Apartment Communities. By acquiring Post, Mid-America will become the nation's largest public landlord by number of units (some 105,000 apartments).

- Show Less + Show Full Description

Post Services, Inc

4401 Northside Pkwy Nw #800
Atlanta, GA 30327-3093
Phone: 1 (404) 846-5000


  • Employer Type: Public
  • Programmer: Ryan Brown

Major Office Locations

  • Atlanta, GA