Emerald Creek Funds Apartment Acquisition

Emerald Creek Capital funded a $2.1 million loan to QR Capital. The proceeds were used to acquire and renovate Highland Forest Apartments in Stone Mountain, Ga.

Located just outside of Atlanta, Highland Forest features one-, two- and three-bedroom apartments and townhomes. A renovation reserve was established at the closing to upgrade the property and increase occupancy. Once stabilization is reached, it is expected that takeout financing can be achieved through either a HUD or Fannie Mae loan.

Opportunities to purchase REO properties at significant discounts represent a growing trend in the commercial real estate market. Formed last year, private equity firm Emerald Creek Capital is capitalizing on the lack of liquidity in today’s credit environment.

They have been actively providing financing to real estate companies who are looking to take advantage of the many discounted deals in the marketplace. Mark Penna, a managing partner at Emerald Creek, explains, “When we launched our fund we knew that eventually there would be great buying opportunities out there; our fund enables firms to take advantage of them.”

Post Properties Announces Quarterly Dividends

Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.20 per share for the first quarter of 2010. The dividend is payable on April 15, 2010 to all common stock shareholders of record as of March 31, 2010.

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the first quarter. The dividend is payable on March 31, 2010 to all Series A preferred stock shareholders of record as of March 15, 2010.

On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the first quarter. The dividend is payable on March 31, 2010 to all Series B preferred stock shareholders of record as of March 15, 2010.

About Post Properties Post Properties, founded more than 38 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States. The Company's mission is delivering superior satisfaction and value to its residents, associates, and investors, with a vision of being the first choice in quality multifamily living. Operating as a real estate investment trust ("REIT"), the Company focuses on developing and managing Post(R) branded resort-style garden and high density urban apartments. In addition, the Company has also developed high-quality condominiums and converted existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia, and has operations in nine markets across the country.

Post Properties owns 19,863 apartment units in 55 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 1,428 apartment units in four communities currently under construction and/or in lease-up. The Company is also developing and selling 277 luxury for-sale condominium homes in two communities (including 129 units in one community held in an unconsolidated entity) and is completing the sell out of units in two other condominium conversion communities through a taxable REIT subsidiary