Preferred Apartment Communities, Inc. (NYSE: APTS) today announced that on August 31, 2018 it closed on an aggregate loan investment of up to approximately $12.3 million. This investment is in connection with Oxford Properties' plans to develop a 240-unit Class A multifamily community located in Fredericksburg, Virginia. The property is part of Southpoint Landing, which is a 63-acre mixed use project with significant visibility from I-95. The completed project is strategically located to provide residents with quick connectivity to a variety of retail, entertainment and dining options in the surrounding area. Additionally, with this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market. "We continue to originate real estate loan investments as it provides the Company with consistent cash flow and a pipeline of modern and new Class A multifamily communities," said Jeff Sherman, the Company's Executive Vice President and Director of Multifamily Investments.

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties. As a secondary strategy, we may acquire or originate senior mortgage loans, subordinate loans or real estate loans secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest a lesser portion of our assets in other real estate related investments, including other income-producing property types, senior mortgage loans, subordinate loans or real estate loans secured by interests in other income-producing property types, membership or partnership interests in other income-producing property types as determined by our manager as appropriate for us. At June 30, 2018, the Company was the approximate 97.4% owner of Preferred Apartment Communities Operating Partnership, L.P., the Company's operating partnership. Preferred Apartment Communities, Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended, commencing with its tax year ended December 31, 2011. Learn more at www.pacapts.com.