Post Properties sells Atlanta complex

Atlanta-based Post Properties, Inc., recently sold its Post Ridge apartment community located in Atlanta, for $44.8 million. The complex, near Powers Ferry Road and Windy Ridge Parkway, is a 434-unit, garden-style community, completed in 1998. The buyer was affiliated with Centennial Holding Company, LLC of Atlanta, according to a news release.

Along with a similar property sale in Northern Virginia, for $57.5 million, the company “expects to report net gains of approximately $54 million in the third quarter relating to these two sales,” the release said.

-- Michelle E. Shaw