Preferred Apartment Communities, Inc. Announces Multi-Family Property Loan Investment in Savannah, Georgia

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Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) announced today that on May 28, 2021, Populus will make a real estate loan investment of up to approximately 17.0 million development in Pooler, a A surface-parked, 316-unit class A multi-family facility in Savannah, Georgia MSA, expected to deliver the first units in the fall of 2022. The loan investment has an external maturity on May 28, 2025, co-terminus with the home loan.

Jeff Sherman, President of Multifamily for the company, said, “We are excited to expand our presence into the Savannah submarket, which has seen significant growth over the past few years. Savannah benefits from a diverse economy that spans Port of Savannah 3rdapprox largest port in the country and the manufacturing, aerospace and tourism industries. “

The project will also be capitalized with a building loan and a significant equity contribution from sponsor Novare Group, an outstanding multi-family developer. Mr. Sherman added, “We believe that continued and select home loan investments are an effective use of our capital and should provide us with an attractive and increasing return on our investment, as well as providing us with the opportunity to move Class A multi-family communities into growing sunbelt markets, in line with our long-term multi-family strategy. “

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust primarily engaged in the ownership and operation of Class A apartment buildings, with select investments in shopping centers and Class A office buildings. Preferred’s investment objective Apartment communities consists of generating attractive and stable returns for shareholders by investing in investment properties and acquiring or granting real estate loans. As of March 31, 2021, the company owned or invested in 117 properties in 13 states, mostly in the southeastern United States. Learn more at www.pacapts.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements can be identified by using forward-looking terminology such as “may”. , “Trend”, “Will”, “Expect”, “Plans”, “Estimate”, “Anticipate”, “Projects”, “Intend”, “Believe”, “Goals”, “Goals”, “Outlook” and the like Expressions. Because such statements involve risks, uncertainties and contingencies, actual results could differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied in such forward-looking statements, including risks associated with the completion of the transaction and the time of it. These risks, uncertainties and contingencies include, but are not limited to (a) the impact of the COVID-19 pandemic and related federal, state and local government actions on PAC’s business and economic conditions in the markets; in which PAC operates; (b) the ability of PAC to mitigate the effects of COVID-19; (c) completion of the sale of seven of our office properties and one real estate loan investment; and (d) those disclosed in PAC’s filings with the Securities and Exchange Commission. PAC assumes no obligation to update these forward-looking statements to reflect events or circumstances after that date or the occurrence of unforeseen events, except as required by law.

additional information

The SEC has validated the registration statement filed by the company for each of our public offerings. Before investing, you should read the final prospectus and any supplements that form part of the registration statement and other documents the company has filed with the SEC for more complete information about the company and the offering. In particular, you should carefully read the risk factors described in the final prospectus and in all associated prospectus supplements as well as in the documents incorporated by reference in the final prospectus and in all associated prospectus supplements. You can obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or its dealer manager, Preferred Capital Securities, LLC, will send you a prospectus relating to the A1 / M1 Series offering upon request by contacting John A. Isakson at (770) 818-4109, 3284 Northside Parkway contact NW, Suite 150, Atlanta, Georgia 30327.

The final prospectus for the A1 / M1 series offer dated October 22, 2019 can be found via the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183219000097/a424b5-2019seriesamshares.htm

View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005200/en/

contacts

Preferred Shared Apartments, Inc.
John A. Isakson 770-818-4109
CFO
Email: [email protected]

Preferred Shared Apartments, Inc.
Paul Cullen 770-818-4144
Executive Vice President-Investor Relations
Email: [email protected]

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