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Preferred Apartment Communities said it was exploring a sale of part or all of the company

Preferred Apartment Communities Soars on Takeover Speculation

By Ted Jackson

Preferred Apartment Communities shares are soaring after Bloomberg reported the multifamily and retail REIT is evaluating a sale of all or part of the company in response to expressions of interest.

Shares were up as much as 20% on the report in morning trade.

The possibility of a takeover comes after Reuters reported in late December that Arkhouse Partners was seeking to take control the board of directors of Preferred Apartment Communities, which has a market capitalization of $955 million


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