Nov. 10, 2011
/PRNewswire/ -- Preferred Apartment Communities, Inc. ("PAC") (AMEX: APTS) today announced that its Board of Directors has declared a quarterly dividend on its common stock of
per share for the fourth quarter 2011. The dividend is payable on
January 17, 2012
to all common stockholders of record as of
December 30, 2011
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. is a
corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout
the United States
. As part of our property acquisition strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make mezzanine loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the construction of these properties. As a secondary strategy, we may acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets. Preferred Apartment Communities intends to elect and qualify as a real estate investment trust for U.S. federal income tax purposes, commencing with our tax year ending December 31, 2011.
SOURCE Preferred Apartment Communities, Inc.