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BRIEF-Preferred Apartment Communities announces acquisition of a multifamily community
March 27, 2017 / 11:10 AM / 7 months ago

BRIEF-Preferred Apartment Communities announces acquisition of a multifamily community

March 27 (Reuters) - Preferred Apartment Communities Inc

* Announces acquisition of a 312-unit multifamily community in Birmingham, Alabama

* Financed acquisition using its newly closed revolving credit facility with Freddie Mac and Keybank

* For acquisition of retreat at Greystone, Pac borrowed $35.2 million on facility at a floating interest rate

* Facility provides for borrowings of up to $200 million, subject to increasing to $300 million in Keybank’s sole discretion Source text for Eikon: Further company coverage:

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