Preferred Apartment Communities, Inc. Announces Investment in Atlanta MSA Multifamily Development
Staff Report From Metro Atlanta CEO
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.
