News
THE BIG 4-0
October 6, 2011
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| Atlanta multifamily institution Post Properties is reaching its 40th birthday soon and we got to chat with CEO David Stockert. "Sitting here today," he tells us, "I feel very good about where the company is positioned." That's because the multifamily industry is experiencing a "tailwind," with fundamentals improving as more people opt for the rental lifestyle in the post housing bubble. The company has changed a bit since John Williams founded it in 1971, transforming from an entreprenueral apartment developer to a publically traded institution. But David (above, ringing the NYSE's bell this past summer) says the basis for what John did remains: A respected, recognizable brand for apartment communities in a world where ownership is often fragmented and invisible. The company now operates 20,000 units in more than 50 communities, down from its early 2000s peak of 30,000 units. But David, who became CEO in 2002, says it's looking to grow again, seeking development opportunities in DC and NY especially. |
