MAA has entered into an agreement to buy Post Properties Inc. for approximately $3.9 billion in stock, creating the largest Sunbelt-focused multifamily REIT in the country. The merger will give the company (which will trade under the name MAA) 105,000 units across 317 properties, valued at $17 billion with a market capitalization of $12 billion. MAA’s 10 largest markets by unit count will be Atlanta, Dallas, Austin, Charlotte, Raleigh, Orlando, Tampa, Fort Worth, Houston and Washington, D.C. The merger is expected to close during the fourth quarter of this year, with headquarters to be located in in Memphis.
“The combination of MAA and Post will establish the leading apartment real estate platform focused on the high-growth Sunbelt region of the country with significant competitive advantages to drive superior value for our shareholders, residents and employees,” said H. Eric Bolton, Jr., MAA’s chairman and CEO. “The combined company will capture a broader market and submarket footprint, with improved rental price-point diversification that will support an enhanced level of performance over the full real estate cycle.”
