Post Properties sells its Post Renaissance complex (Atlanta: sales, 2013)

[Gulch]

LINK

Atlanta-based Post Properties has sold its Renaissance community in downtown Atlanta for a price that exceeded the company’s expectations.

Post Properties sold its Renaissance property in downtown Atlanta for $47.5 million, a price that “thrilled” the company, CEO David Stockert said. The sales price was a bright spot in a quarterly report released Wednesday that showed the company’s revenue forecast has slowed more than expected. The decline prompted the company to reduce rents in order to maintain occupancy rates going into winter, though evidently not in the Atlanta market because leasing here remains strong.

Post announced it had closed the sale of Renaissance for a gross price of $47.5 million. Renaissance is the second Atlanta property Post has sold in the past two years. In early 2012, Post sold its 35 percent ownership in the Post Biltmore for a gross price of $51 million.

[dividedDawg]

I thought they must have sold it! I was looking on their site yesterday and was surprised that it wasn't there. Do you know who bought it?

[Gulch]

Originally Posted by dividedDawg

I thought they must have sold it! I was looking on their site yesterday and was surprised that it wasn't there. Do you know who bought it?

The article stated that the buyer hasn't been publicly disclosed yet.

Also, here's a working link to the article.

[dividedDawg]

Ah okay, thanks!

[BackInATL2011]

BTW theres a new dog park in Renaissance Park next door. Good job Old 4th Ward!