Preferred Apartment Communities, Inc. Announces Acquisition of a Grocery-Anchored Necessity Retail Shopping Center

Preferred Apartment Communities, Inc.

("PAC" or the "Company") today announced the acquisition on September 4, 2015 of an approximately 120,000 square foot grocery-anchored necessity retail shopping center anchored by a Kroger grocery store in a northern Atlanta suburb. PAC acquired this asset through its wholly-owned subsidiary New Market Properties, LLC. Joel T. Murphy, President and Chief Executive Officer of New Market Properties, LLC, said, "This acquisition of another well-located Kroger anchored center is consistent with our strategy to invest in grocery-anchored necessity retail centers with market dominant grocers in solid Sunbelt markets. We believe this center will benefit in the near and long term from its quality location at the front entrance to the Royal Lakes Golf & Country Club community nearby the Atlanta Falcons' training facility." New Market Properties acquired this shopping center through a wholly-owned subsidiary and financed the acquisition utilizing a first mortgage loan from SunTrust Bank.