X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-It’s not exactly what you’d call Post Time. Atlanta-based Post Properties Inc. has taken another hit with Moody’s Investors Service downgrading its rating from positive to stable. The rating focuses on senior unsecured debt at Post Apartment Homes LP and preferred stock for Post Properties.

The causes, according to Moody’s VP and senior analyst Philip M. Kibel, are many. First came Post’s announcement that earnings were going to lag behind expectations. Then there was a reversal of strategy. Earlier plans to become a nationwide apartment entity fizzled, and Post reportedly sheared off markets to narrow its focus. Finally, a slower lease-up on newly developed properties didn’t help.

Presumably, however, the rating would have been lower if it were not for certain strengths that Post has going for it. “The ratings also incorporate its focus on upscale multifamily properties,” says Kibel, “its successful mixed-use strategy; its good experience as an apartment builder and owner; and its position as one of the leading developers, owners and operators of institutional-quality apartments in the Southern USA.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.