Preferred Apartment Communities has closed on an aggregate loan investment of up to approximately $30.1 million.
This investment is in connection with the development of a 302-unit Class A multifamily community in Alexandria, Virginia. The property is conveniently located near the blue line transit station adjacent to the master-planned community known as Cameron Station. Additionally, with this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market.
