Preferred Apartment Communities, Inc. Announces Acquisition of Three Multifamily Communities

ATLANTA, GA /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE MKT: APTS) ("PAC") announced its acquisition of three multifamily communities aggregating 928 apartment homes located in Atlanta, Georgia, Austin, Texas and suburban Raleigh, North Carolina utilizing a portion of the net proceeds from PAC's recently completed $40.0 million private placement transaction.

 Following the closings of these acquisitions, the multifamily communities will each be rebranded as "a Preferred Apartment Community."

For a complete copy of the company’s news release, please contact:

Leonard A. Silverstein,

President and Chief Operating Officer,

Preferred Apartment Communities, Inc.,

+1-770-818-4147,

lsilverstein@pacapts.com