Memphis-based MAA enters into $4B merger with Post Properties

Memphis-based real estate investment trust (REIT) MAA (NYSE: MAA) has entered into an agreement with Atlanta-based Post Properties (NYSE: PPS) for $3.9 billion, making it the largest publicly traded REIT portfolio of owned apartments in the U.S. The merger will create a new company, still headquartered in Memphis, with an expected value of $17 billion and a $12 billion equity market cap. The company will own 105,000 apartment units in 317 properties across the U.S. Charlotte will be among the combined…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/news/2016/08/16/memphis-based-maa-enters-into-4b-merger-with-post.html?ana=RSS%26s=article_search