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

Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced that on November 3, 2021 it closed on a real estate loan investment of up to approximately $9.1 million in connection with Oxford Properties’ plans to develop Beaver Ruin Apartments, a 246-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 early 2023. The real estate loan investment has an outside maturity date in November 2026, co-terminus with the construction loan.

Jeff Sherman, the Company's President of Multifamily said “This development marks our second investment this year in Gwinnett County, a rapidly growing suburb of Atlanta that continues to benefit from its strategic location along the northern I-85 corridor.” Mr. Sherman continued, “We are proud to once again partner with Oxford Properties on another thoughtfully designed Class A garden community.” Mr. Sherman added, “We continue to originate real estate loan investments as they provide the Company with strong current returns and a deep pipeline of well-conceived, high-quality communities in our target markets.”

John Isakson, PAC’s Chief Financial Officer added, “This new loan further demonstrates our ability to backfill the loan payoffs we have seen in 2021. We continue to be pleased with the quality of our pipeline for new multifamily real estate loan investments. This investment strategy has been a strength of the Company and will continue to be a focus as we move into 2022.”

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. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating multifamily real estate loans. As of September 30, 2021, the Company owned or was invested in 107 properties in 13 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com.