Post Properties to spend on paint, technology

Post Properties said its business strengthened in 2013 as the Atlanta-based apartment company filled three new projects and “substantially” exited the condominium business.

“In these and other ways, the business has been strengthened and positioned for ongoing success,” CEO Dave Stockert said in a statement Monday.

The company is spending more money painting properties this year, and upgrading its technology. Post said it intends to sell some apartments in 2014, and will use the money to pay down debt, for new development, or for other reasons.

Post made $106.8 million in 2013, a 33 percent increase over 2012. Revenues rose 9.8 percent, to $362.7 million.

The company expects revenues on existing properties to increase between 2.3 and 2.8 percent in 2014.