On December 12, 2016, the Board of Directors (the “Board”) of Preferred Apartment Communities, Inc. (“PAC” or the “Company”) reaffirmed PAC’s strategy of aggregating a critical mass of grocery-anchored shopping center assets through New Market Properties, LLC (“New Market”), an indirect subsidiary of PAC, with the objective to spin-off, sell or distribute New Market once PAC believes New Market has reached sufficient scale and market conditions allow. Toward this end, the Board also agreed to temporarily suspend PAC’s 20% investment guideline cap on owning and operating non-multifamily assets (the “20% Investment Threshold”) in recognition of the growth success New Market has experienced to date and in order not to impede New Market’s efforts to achieve this critical mass. PAC nevertheless will continue its primary focus on owning and operating multifamily communities and expects to reinstate the 20% Investment Threshold following the spin-off, sale or distribution of New Market.

Forward-Looking Statements

This Current Report on Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, guidance, goals, objectives, future performance and business. These statements may be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “should,” “plans,” “estimates,” “anticipates,” “projects,” “intends,” “believes,” “goals,” “outlook” and similar expressions. The forward-looking statements contained in this Current Report on Form 8-K are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: our spin off, sale or distribution of New Market; our business and investment strategy; our projected operating results; our guidance and goals; estimates relating to our ability to make distributions to our stockholders in the future; availability of qualified personnel; local and national market conditions and trends in our industry; demand for and lease-up of apartment homes, supply of competitive housing product, and other economic conditions; availability of debt and/or equity financing and availability on favorable terms; changes in our asset values; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; and economic trends and economic recoveries. Additional discussions of risks, uncertainties and certain other important information appear in our publicly available filings made and to be made with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on March 14, 2016 and our Quarterly Reports on Form 10-Q filed with the SEC on May 9, 2016, August 9, 2016 and November 7, 2016, all under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” All information in this release is as of December 16, 2016. The Company does not undertake a duty to update forward-looking statements, including its projected operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Current Report on Form 8-K. The Company may, in its discretion, provide information in future public announcements regarding its outlook that may be of interest to the investment community.

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.

Preferred Apartment Communities, Inc. (NYSE:APTS) Recent Trading Information

Preferred Apartment Communities, Inc. (NYSE:APTS) closed its last trading session up +0.20 at 13.94 with 218,131 shares trading hands.