Preferred Apartment Communities, Inc. Acquires a 231-Unit Multifamily Community in the Dallas-Fort Worth MSA

Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today completed the acquisition of Alleia at Presidio, a 231-Unit Class A multifamily community in Fort Worth, Texas.

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Alleia at Presidio : Dallas-Forth Worth, TX (Photo: Business Wire)

Jeff Sherman, the Company’s President of Multifamily said, “Alleia marks our re-entry into the Dallas-Fort Worth metroplex, which continues to lead the nation in total population growth.” Mr. Sherman added, “This property checks so many boxes for us; it is surrounded by affluent demographics, is located in a top-rated school district, is less than 5 miles from two hospital systems and is walkable to Presidio Towne Crossing, a destination retail center including a Costco, Target and numerous restaurants and services.”

John A. Isakson, Chief Financial Officer commented, “Alleia represents another accretive acquisition for our multifamily portfolio from a high-quality developer we have done multiple transactions with previously. We are excited to continue to grow our multifamily portfolio and the Dallas/Ft. Worth market is one of our strategic focuses as it continues to be an attractive market with excellent demographic, economic and rent growth trends. The ongoing growth in our multifamily portfolio further extends the strategic rotation of capital we have been focusing on for the last 12 months.”

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers and Class A office buildings. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of March 31, 2021, the Company owned or was invested in 117 properties in 13 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com.