Post Properties recently took the wraps off a new stock and note repurchase program that would replace its existing share repurchase program in place until the end of this year.
Under terms of the new program, the Atlanta-based REIT may repurchase up to $200 million worth of common stock or preferred shares or its operating partnership’s senior unsecured notes until Dec. 31, 2012.
Post Properties owns stakes in more than 20,200 apartments in 56 communities, including 1,747 apartments in five communities held in unconsolidated entities.
NAA’s Industry Insider, Dec. 14