1012271--2/29/2008--POST_APARTMENT_HOMES

related topics

{loan, real, estate}

{acquisition, growth, future}

{investment, property, distribution}

{debt, indebtedness, cash}

{tax, income, asset}

{cost, regulation, environmental}

{loss, insurance, financial}

{stock, price, share}

{control, financial, internal}

{cost, contract, operation}

{condition, economic, financial}

Possible difficulty of selling apartment communities could limit the Company s operational and financial flexibility. The Company is subject to increased exposure to economic and other competitive factors due to the concentration of its investments in certain markets. Failure to generate sufficient cash flows could affect the Company s debt financing and create refinancing risk. The Company could become more highly leveraged which could result in an increased risk of default and in an increase in its debt service requirements. Debt financing may not be available and equity issuances could be dilutive to the company s shareholders. The Company s condominium conversion and for-sale (condominium) housing business involves unique business risks and challenges. Unfavorable changes in for-sale (condominium) housing in the Company s markets and general economic conditions could adversely affect the profitability of the Company s condominium conversion and newly developed for-sale housing business. Acquired apartment communities may not achieve anticipated results. Increased competition and increased affordability of residential homes could limit the Company s ability to retain its residents, lease apartment homes or increase or maintain rents. Limited investment opportunities could adversely affect the Company s growth. The Company may not be able to maintain its current dividend level. Changing interest rates could increase interest costs and could affect the market price of the Company s securities. Interest rate hedging contracts may be ineffective and may result in material charges. Failure to succeed in new markets may limit the company s growth. Compliance or failure to comply with laws requiring access to the Company s properties by persons with disabilities could result in substantial cost. Any weaknesses identified in the Company s system of internal controls by the Company and its independent registered public accounting firm pursuant to Section 404 of the Sarbanes-Oxley Act of 2002 could have an adverse effect on the Company s business. Losses from natural catastrophes may exceed insurance coverage. Potential liability for environmental contamination could result in substantial costs. Costs associated with moisture infiltration and resulting mold remediation may be costly. The Company s joint ventures and joint ownership of properties and partial interests in corporations and limited partnerships could limit the Company s ability to control such properties and partial interests. The Company may be unable to renew leases or relet units as leases expire. The Company may fail to qualify as a REIT for federal income tax purposes. The Operating Partnership may fail to be treated as a partnership for federal income tax purposes. The Company s real estate assets may be subject to impairment charges. The formal process initiated by the Company to pursue a possible business combination or other sale transaction may not result in a transaction.

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1012271--2/29/2008--POST_APARTMENT_HOMES_LP