Preferred Apartment Communities, Inc. APTS, +1.02% ("PAC" or the "Company"), through its subsidiary Preferred Office Properties, LLC, announced that it had previously closed on December 3, 2018 an aggregate loan investment of up to approximately $67.6 million.  This investment is in connection with 8 West, a 187,000 square foot office development by Atlantic Capital Properties and Gateway Development in the West Midtown submarket of Atlanta, Georgia.  Additionally, with this investment, Preferred Office Properties, LLC received an option to purchase the office project following stabilization.

"We are excited to have found such a compelling opportunity to expand our loan investment program into a high quality, well-located office development," said Boone DuPree, Preferred Office Properties' President and Chief Executive Officer. Mr. DuPree added, "Proximity to Georgia Tech, a top tier developer team with deep experience including partnering on Centergy at Technology Square, and West Midtown's evolution into one of Atlanta's most vibrant 'live-work-play' districts all support our expectation of this investment's performance."