Post Properties has $16M annual loss - Atlanta Business Chronicle:

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The Atlanta-based multifamily real estates investment trust recorded a net lossof $16.3 million and a loss per shars of 37 cents, compared with net income of $171.1 million and earningxs of $3.88 a share in 2007. Revenue was $281.9 compared with $277.3 million in 2007. The results for 2008 includ e $87.8 million in non-cash impairment chargesa for certain land held for sale and land heldfor $2.7 million in non-cash chargess for the write off of capitalized pursuiy costs related to abandoned development $2.8 million in hurricane casualty losses, $5.5 million in severance charge and $8.2 million in chargexs related to the investigationn to seek a potential sale of the company.
It also includes a $75.2q million gain from the sales ofapartmenft communities, including the $22.7 million sale of Post Lenozx Park in Atlanta. Post Properties PPS) owns 21,189 apartment units in 58 including 1,747 apartment units in five communities held in unconsolidates entitiesand 1,736 apartment units in five communitiesx currently under construction and/or in lease-up.