The 434-unit Post Ridge complex in Atlanta sold for $44.8 million, or more than $103,000 per unit. Atlanta-based Centennial Holding Co. LLC bought the 11-year-old apartments, with CB Richard Ellis brokering the transaction.

Also, the 384-unit Post Forest apartments in Fairfax were sold for $57.5 million, or $158,000 per unit, to an entity affiliate of New York-based Pantzer Properties Inc. Holliday Fenoglio Fowler LP brokered the deal.

"Completing these two sales in a difficult transaction environment reflects the quality of the assets and the strength of the Post brand," David Stockert, the company's CEO and president, stated in a release. He noted that the net proceeds will be used to bolster Post's balance sheet and cash balances, enhancing its financial strength and flexibility through the current economic cycle.