Filed pursuant to Rule 433
Registration No. 333-55994
Registration No. 333-55994
Post Apartment Homes, L.P.
6.30% Senior Notes due 2013
| Term sheet dated May 31, 2006 | ||||||
| Size: | $150,000,000 | |||||
| Coupon (Interest Rate): | 6.30% per year | |||||
| Yield to Maturity: | 6.336% | |||||
| Spread to Benchmark Treasury: | 128 basis points | |||||
| Benchmark Treasury: | 3.625% UST due May 2013 | |||||
| Benchmark Treasury Price and Yield: | 5.056%; 91-221/4 | |||||
| Interest Payment Dates: | June 1 and December 1 | |||||
| First Payment Date: | December 1, 2006 | |||||
| Maturity Date: | June 1, 2013 | |||||
| Price to Public: | 99.800% of principal amount, plus accrued interest, if any, from the date of original issuance | |||||
| Settlement Date: | T+3; June 5, 2006 | |||||
| Record Dates: | May 15 and November 15 | |||||
| Aggregate Price to Public: | $149,700,000 | |||||
| Expenses of the Company Excluding Underwriting Discount: | $450,000 | |||||
| Net Proceeds to the Company after Expenses: | $148,312,500 | |||||
| Redemption Provision: | Make-whole call at any time based on U.S. Treasury plus 0.20% (twenty one-hundredths of one percent) | |||||
| Dealer Concession: | 0.375% | |||||
| Reallowance: | 0.250% | |||||
| Joint Book-Running Managers: | Wachovia Capital Markets, LLC | $ | 70,000,000 | |||
| J.P. Morgan Securities Inc. | $ | 70,000,000 | ||||
| Co-Managers: | SunTrust Capital Markets, Inc. | $ | 2,500,000 | |||
| Wells Fargo Securities, LLC | $ | 2,500,000 | ||||
| Daiwa Securities America Inc. | $ | 2,500,000 | ||||
| PNC Capital Markets LLC | $ | 2,500,000 |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Wachovia Securities toll-free at 1-800-326-5897 or JPMorgan toll-free at (212) 834-4533 (call collect).
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