POTENTIAL DEAL DETAILS
Stock | Preferred Apartment Communities, Inc. | Symbol | APTS |
Date Announced | 02/09/2022 | Source | Bloomberg |
Type | Company Seeking Strategic Alternatives |
Date of Confirmation: | 02/16/2022 | Price at Confirmation: | $23.28 |
Potential Profit: | 10.70% | Annualized Profit: | 557.88% |
Preferred Apartment Communities Inc., (APTS) a real estate investment trust that owns retail and multifamily properties, is exploring options including a full or partial sale after receiving inbound interest, according to people with knowledge of the matter.
Update(s):
February 16, 2022: Preferred Apartment Communities (APTS) announced that it has entered into a definitive agreement with Blackstone Real Estate Income Trust, Inc., under which BREIT will acquire all outstanding shares of common stock of PAC for $25.00 per share in an all-cash transaction valued at approximately $5.8 billion.
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