Post Announces Sale of Atlanta Community

Apr 10, 2001, 01:00 ET from Post Properties, Inc.

    ATLANTA, April 10 /PRNewswire/ -- Post Properties, Inc. (NYSE:   PPS)
 announced today the sale of Post Creek(R) in Atlanta.
     The proceeds of the sale are $67.25 million.  Post Creek(R) has 810 units
 and was completed in 1983.  Proceeds from the sale will be used to reduce the
 indebtedness of the company.
     Post Properties, Inc., the preeminent developer and operator of upscale
 apartment communities in the United States, pioneered building and branding
 resort-style garden apartments for almost 30 years.  Post now focuses on the
 creation of high-quality, high-density, live-work-walk neighborhoods in infill
 locations in major urban markets across the country.  The company has been
 recognized locally, nationally and internationally for building better
 neighborhoods and the preservation of historic buildings.  Operating as a
 self-administered and self-managed equity real estate investment trust (REIT),
 the company's primary business consists of developing and managing Post(R)
 brand-name apartment communities.
     Nationwide, Post Properties owns approximately 34,370 apartment homes in
 101 communities, including 4,385 units currently under development.
 
 

SOURCE Post Properties, Inc.
    ATLANTA, April 10 /PRNewswire/ -- Post Properties, Inc. (NYSE:   PPS)
 announced today the sale of Post Creek(R) in Atlanta.
     The proceeds of the sale are $67.25 million.  Post Creek(R) has 810 units
 and was completed in 1983.  Proceeds from the sale will be used to reduce the
 indebtedness of the company.
     Post Properties, Inc., the preeminent developer and operator of upscale
 apartment communities in the United States, pioneered building and branding
 resort-style garden apartments for almost 30 years.  Post now focuses on the
 creation of high-quality, high-density, live-work-walk neighborhoods in infill
 locations in major urban markets across the country.  The company has been
 recognized locally, nationally and internationally for building better
 neighborhoods and the preservation of historic buildings.  Operating as a
 self-administered and self-managed equity real estate investment trust (REIT),
 the company's primary business consists of developing and managing Post(R)
 brand-name apartment communities.
     Nationwide, Post Properties owns approximately 34,370 apartment homes in
 101 communities, including 4,385 units currently under development.
 
 SOURCE  Post Properties, Inc.