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Stock Market & Financial Investment News

News Breaks
January 2, 2014
09:19 EDTAPTSPreferred Apartment acquires community in Atlanta, Georgia, for $20M
Preferred Apartment acquired a 140-unit multifamily community located in Atlanta, Georgia, adjacent to the company's 345-unit Summit Crossing community for a purchase price of approximately $19.9M. Summit II was completed in 2013 and has a current occupancy of approximately 96.4%. Upon the acquisition of Summit II, PAC assumed the current $12.4M senior loan from Atlantic Capital Bank, which was increased to $13.0M with a new maturity date of June.
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