Preferred Apartment Communities, Inc. Announces Investment in Atlanta MSA Multifamily Development
Monday, July 17th, 2017
Preferred Apartment Communities, Inc. announced that on July 11, 2017 it closed on a loan investment of up to approximately $22.4 million. This investment is in connection with 360 Residential's plans to develop a 356-unit multifamily community located in the Atlanta, Georgia MSA. Additionally, with this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market. "We are pleased to be part of this exciting new multifamily development in such a growing and vibrant submarket," said John A. Williams, the Company's Chief Executive Officer.