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BRIEF-Preferred Apartment acquires 300-unit multifamily community in Marietta, Georgia
September 29, 2017 / 8:33 PM / 24 days ago

BRIEF-Preferred Apartment acquires 300-unit multifamily community in Marietta, Georgia

Sept 29 (Reuters) - Preferred Apartment Communities Inc

* Preferred Apartment Communities Inc announces acquisition of a 300-unit multifamily community in Marietta, Georgia

* Preferred Apartment Communities Inc - ‍PAC financed acquisition using its revolving credit facility with Freddie Mac and KeyBank​

* Preferred Apartment - ‍facility provides for borrowings of up to $200 million, subject to increasing facility to $300 million in KeyBank’s sole discretion​

* Preferred Apartment - ‍for acquisition, co borrowed approximately $37.9 million on facility at floating interest rate 185 basis points above 30-day LIBOR​

* Preferred Apartment Communities Inc - ‍facility has a five-year term and a floating interest rate​ Source text for Eikon: Further company coverage:

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