RAM Partners was formed in 1989. As of December 2001, the company managed 18,500 apartment units, 8,400 of which are in Atlanta, making it the seventh largest property management company in the city, according to published reports.
RAM Partners had $4.6 million in revenues in 2001 and managed 82 communities in 10 states. The company has 500 employees. In fourth quarter 2001 Post sold another subsidiary, Post Landscape Group, to three employees for an undisclosed price, according to Post's prepared statement.
Earlier this year, Post sold its third-party fee landscaping operation to members of its management team, also for an undisclosed sum. The sale did not affect Post's internal landscaping division that designs, installs, and maintains landscaping services for its apartment complexes, according to the company.
Five analyst firms have downgraded their recommendation on Post Properties stock since October.
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