as informed in bloomberg
Mid-America Nears $4 Billion Post Properties Deal, WSJ Says
Mid-America Nears $4 Billion Post Properties Deal, WSJ Says
Mid-America Apartment Communities Inc., a real-estate investment trust, is close to a deal to buy Post Properties Inc. for about $4 billion as demand for rental properties booms, The Wall Street Journal reported.Post Properties shareholders will get 0.71 share of new MAA stock for each share in a deal that could be announced Monday, according to the newspaper's website, which cited people familiar with the matter that it didn't name.Apartment managers have benefited from a recovery in the housing market as rising home prices have turned many would-be buyers into renters, the Journal said.
in like manner bloomberg
Post Properties Surges on $3.9 Billion Deal With Mid-America
Post Properties Surges on $3.9 Billion Deal With Mid-America
Post Properties Inc. shares rose the most in seven years after Mid-America Apartment Communities Inc. agreed to buy the real estate investment trust for about $3.9 billion, forming a company with about 105,000 multifamily units amid rising demand for rental housing.Post Properties investors will get 0.71 of a Mid-America share for each of their shares, the companies said in a statement Monday.That equals about $72.53 a share, or a 17 percent premium, based on Friday's closing prices.
additionally reit
Multifamily REIT MAA Plans to Buy Post Properties in Near-$4 Billion Deal
Multifamily REIT MAA Plans to Buy Post Properties in Near-$4 Billion Deal
MAA (NYSE: MAA) said Aug. 15 it intends to pay approximately $4 billion to acquire Post Properties, Inc., (NYSE:PPS) and create a multifamily REIT with a total market capitalization of around $17 billion.In a conference call, H. Eric Bolton, Jr., chairman and CEO of MAA, said the combined company would have a broader, more balanced earnings base, with a lower long-term cost of capital.The new company would have a "superior competitive advantage" across the Sunbelt region of the United States, he said.
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