Preferred Apartment Communities, Inc. Announces Real Estate Loan Investment in Atlanta, Georgia MSA Multifamily Development

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Aug 17, 2021

Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that on August 11, 2021 it closed on a real estate loan investment of up to approximately $23.15 million in connection with Oxford Properties’ plans to develop Club Drive Apartments, a 352-unit, garden-style surface parked Class A multifamily community located in Gwinnett County, a northeast suburb in the Atlanta, Georgia MSA. Delivery of first units is expected in Fall 2023. The real estate loan investment has an outside maturity date in February 2027 co-terminus with the construction loan.