Mid-America Nears $4 Billion Post Properties Deal, WSJ Says
ByMid-America Apartment Communities Inc., a real-estate investment trust, is close to a deal to buy Post Properties Inc. for about $4 billion as demand for rental properties booms, The Wall Street Journal reported.
Post Properties shareholders will get 0.71 share of new MAA stock for each share in a deal that could be announced Monday, according to the newspaper’s website, which cited people familiar with the matter that it didn’t name.
Apartment managers have benefited from a recovery in the housing market as rising home prices have turned many would-be buyers into renters, the Journal said. At the same time, growth in rents has begun to slow, creating an incentive for mergers that reduce costs…
Mid-America Nears $4 Billion Post Properties Deal, WSJ Says
