August 15, 2016
Memphis, TN-based Mid America Apartments (MAA) entered into a definitive agreement to acquire Post Properties Inc., which is headquartered in Atlanta, GA. The acquisition of the two multifamily REITs is anticipated to create a proforma equity market capitalization of approximately $12 billion, a total market capitalization of $17 billion, and a combined portfolio totaling approximately 105,000 units throughout 317 properties. The properties are located throughout the the sunbelt states.
Upon the merger’s completion, the company will retain the MAA name, and trade under the ticker symbol MAA. The combined company’s corporate headquarters will be located in Memphis, and have a significant presence in Atlanta and Dallas. The merger is anticipated to close during the fourth quarter of this year..
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