Preferred Apartment Communities, Inc. (NYSE:APTS) Files An 8-K Other EventsItem 8.01Other Events.
Preferred Apartment Communities, Inc. (the "Company"), to its registration statement on Form S-3 (File No.333-214531) (the "Registration Statement"), is offering (the "mShares Offering") shares of the Company’s Series M Redeemable Preferred Stock, par value $0.01 per share (the "mShares"). The Offering is being made to a final prospectus, dated January 19, 2017 (as modified or supplemented, the "Prospectus"), which forms a part of the Registration Statement, which was declared effective by the Securities and Exchange Commission on December 2, 2016. The mShares are sold for $1,000 per mShare.
The Registration Statement is being clarified to state the Company’s mShares Offering is designed to potentially provide investors with preservation of capital and steady income.
About Preferred Apartment Communities, Inc. (NYSE:APTS)
Preferred Apartment Communities, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail and real estate related financing. The multifamily communities segment consists of owned residential multifamily communities. It owns approximately 20 multifamily communities with a total of over 6,140 units in over eight states. The retail segment consists of owned grocery-anchored shopping centers. The Company owns over 31 grocery-anchored centers across over seven Sunbelt states. It owns Champions Village, a Randalls-anchored shopping center. The financing segment consists of a portfolio of real estate loans, bridge loans and other financial instruments, which partially finance the development, construction and prestabilization carrying costs of multifamily communities and other real estate assets.