Preferred Apartment Communities, Inc. Announces Acquisition of a Student Housing Community in College Station

Business News for Bryan - College Station, Texas

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Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced that it acquired The Tradition, a 427-unit, 808-bed student housing community located in historic Northgate one block away from Texas A&M University in College Station, Texas.  PAC acquired this asset through its wholly-owned subsidiary Preferred Campus Communities, LLC (“PCC”).

“This acquisition increases the size of the PCC portfolio to five student housing communities across four states,” said Paul Cullen, Chief Executive Officer of PCC.  Mr. Cullen added, “The Tradition is located just steps from the Texas A&M campus and was completely renovated in 2017 to provide best in class student-centered amenities and finishes, including a 24 hour penthouse fitness center, a Starbucks coffee bar, and a technology center with over 30 computer stations.”

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