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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: (Date of earliest event reported): August 1, 1997
Post Properties, Inc.
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(Exact name of Registrant as Specified in Charter)
Georgia 1-12080 58-1550675
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
3350 Cumberland Circle, Atlanta, Georgia 30339
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (770) 850-4400
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On August 4, 1997, the Registrant announced that it has entered into a
definitive agreement and plan of merger with Columbus Realty Trust, a Texas
real estate investment trust ("Columbus"), pursuant to which Columbus would be
merged into a wholly owned subsidiary of the Registrant (the "Merger
Agreement"). Columbus currently operates 24 completed communities containing
6,045 apartment units and has an additional six communities under development
that will contain 1,481 apartment units upon completion located in Dallas and
Houston, Texas and Jackson, Mississippi. Pursuant to the Merger Agreement, each
outstanding share of Columbus common shares will be converted into .615 shares
of common stock of the Registrant, which will result in the issuance of
approximately 8.4 million shares of common stock of the Registrant. The merger,
which will be accounted for as a purchase, is expected to be completed in
November l997, subject to the approval of the shareholders of the Registrant
and Columbus and other customary conditions.
For further information concerning the merger and the Merger Agreement,
see Exhibits 2 and 99 hereto, which are incorporated herein by reference.
Item 7. Financial Statement, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit 2 - Agreement and Plan of Merger, dated as of August 1,
1997, among Post Properties, Inc., Post LP Holdings,
Inc. and Columbus Realty Trust
Exhibit 99 - Press Release dated August 4, 1997
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
POST PROPERTIES, INC.
Date: August 6, 1997 By: /s/ John A. Williams
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John A. Williams
Chairman of the Board,
Chief Executive Officer
and Director
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INDEX TO EXHIBITS
Exhibit Number and Description
2 Agreement and Plan of Merger, dated as of August 1, 1997, among
Post Properties, Inc., Post LP Holdings, Inc. and Columbus Realty
Trust.
99 Press Release dated August 4, 1997.