{"id":168896,"date":"2022-02-11T09:46:26","date_gmt":"2022-02-11T14:46:26","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=168896"},"modified":"2022-02-11T09:46:26","modified_gmt":"2022-02-11T14:46:26","slug":"preferred-apartment-communities-reit-explores-options-including-sale","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/preferred-apartment-communities-reit-explores-options-including-sale\/","title":{"rendered":"Preferred Apartment Communities REIT Explores Options, Including Sale"},"content":{"rendered":"<h1>Preferred Apartment Communities REIT Explores Options, Including Sale<\/h1>\n<p>February 11, 2022 | James Sprow | Blue Vault<\/p>\n<p style=\"padding-left: 40px;\">\u2022 Landlord is in the early stages of evaluating options<\/p>\n<p style=\"padding-left: 40px;\">\u2022 Atlanta-based REIT fields inbound interest, no deal guaranteed<\/p>\n<p>Preferred Apartment Communities Inc., a real estate investment trust that owns retail and multifamily properties, is exploring options including a full or partial sale after receiving inbound interest, according to people with knowledge of the matter.<\/p>\n<p>The Atlanta-based landlord, led by Chief Executive Officer Joel Murphy, is in the early stages of evaluating its options, one of the people said. It\u2019s possible no transaction will result.<\/p>\n<p>A spokesman for Preferred Apartment Communities declined to comment.<\/p>\n<p>The company\u2019s shares closed Wednesday at $17.96 apiece, giving it a market value of about $951 million. As of Sept. 30, it owned or was invested in 107 properties in 13 U.S. states such as Florida, South Carolina and Texas, mostly Class A apartment buildings as well as grocery-anchored shopping centers. The REIT also makes multifamily real estate loans.<\/p>\n<p>In 2021, the company divested office assets to buyers including Highwoods Properties Inc., part of a previously announced strategy to simplify its business.<\/p>\n<p>One of the Preferred Apartment Communities\u2019 investors, Arkhouse Partners, nominated directors in an effort to oust the majority of its board, Reuters reported in December.<\/p>\n<p><em>Source: Bloomberg, By Gillian Tan, February 9, 2022<br \/>\n<\/em><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Preferred Apartment Communities Inc., a real estate investment trust that owns retail and multifamily properties, is exploring options including&#8230;<\/p>\n","protected":false},"author":3464,"featured_media":162155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"single-article.php","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2806,3010,2939,2817,2737,2965,2975],"tags":[],"class_list":["post-168896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-class","category-asset-manager-news","category-commercial-real-estate","category-multifamily","category-offering-type","category-performance","category-valuations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - 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