Preferred Apartment Communities, Inc. announced that it has issued an additional 412,500 shares of common stock pursuant to the exercise in full of the underwriters' option received in connection with PAC's previously announced public offering of common stock.  After giving effect to the full exercise of the option, PAC sold an aggregate of 3,162,500 shares of its common stock with total gross proceeds of approximately $48.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by PAC.  

Deutsche Bank Securities Inc. acted as the sole book-running manager for the offering and JonesTrading Institutional Services LLC acted as joint-lead manager for the offering.