Preferred Apartment Communities Buys Texas Multifamily Property

Preferred Apartment Communities Inc. (NYSE: APTS), a publicly traded real estate investment trust and sponsor of alternative investments, has purchased Alleia at Presidio.

Preferred Apartment Communities Inc. (NYSE: APTS), a publicly traded real estate investment trust and sponsor of alternative investments, has purchased Alleia at Presidio, a 231-Unit Class A multifamily property in Fort Worth, Texas. The purchase price was not disclosed.

Alleia at Presidio is comprised of one-, two-, and three-bedroom units and includes a saltwater pool, poolside cabana with firepit and grilling area, a two-story fitness center, dog park and pet spa, cinema theater, Starbucks coffee bar, car care center, among other amenities.

“Alleia marks our re-entry into the Dallas-Fort Worth metroplex, which continues to lead the nation in total population growth,” said Jeff Sherman, president of multifamily. “This property checks so many boxes for us; it is surrounded by affluent demographics, is located in a top-rated school district, is less than five miles from two hospital systems and is walkable to Presidio Towne Crossing, a destination retail center including a Costco, Target and numerous restaurants and services.”

In other company news, Preferred Apartment Communities recently purchased The Ellison, a 250-Unit Class A multifamily community in the Atlanta suburb of Kennesaw, Georgia.

Preferred Apartment Communities invests primarily in Class A multifamily properties, with select investments in grocery-anchored shopping centers and Class A office buildings. As of March 31, 2021, the company owned or was invested in 117 properties in 13 states, predominantly in the Southeast region of the United States.

For more Preferred Apartment Communities news, please visit their directory page.