Apt. REITs MAA, Post Finalize Merger

An MAA apartment community in charlotte, NC. (Photo: MAA)

MEMPHIS—Apartment REITs MAA and Post Properties Inc. said Thursday they had completed their previously announced merger. The combined company, which will retain the MAA name and will trade under the existing ticker symbol MAA on the New York Stock Exchange, has an equity market capitalization of approximately $11 billion and a total market cap of approximately $15 billion. Both market cap figures are lower than the estimates of $12 billion and $17 billion, respectively, that were reported when the merger was announced this past August.

The completion of the all-stock merger, valued at $4 billion, occurs after three weeks after shareholders in both companies voted to approve the combination. “We are excited to officially complete the merger of MAA and Post Properties,” says H. Eric Bolton Jr., chairman and CEO of MAA. “We have successfully completed early integration activities and are off to a great start. We look forward to completing the integration work over the coming year and positioning to capture the full range of opportunities surrounding the merger.”