Preferred Apartment Communities Acquires 240-Unit, Class A Multifamily Community

Preferred Apartment Communities, Inc. has acquired The Kingson, a 240-unit multifamily community in Fredericksburg, VA.

The Fredericksburg location, a historic and growing suburb, benefits from its immediate location to grocery and retail giants such as Public, Target, and Starbucks. It’s also located within minutes of a regional hospital, and a short commute to the Virginia Railway Express Station.

John A. Isakson, chief financial officer, said, “Our real estate loan investment program continues to produce accretive returns, as well as a productive pipeline of excellent assets for our portfolio. This acquisition also reinforces our stated strategy of simplifying our platform by rotating capital from non-core investments into our core multifamily business.”