According to Bloomberg, Preferred Apartment Communities (APTS) seeking strategic alternatives

  • February 10, 2022

POTENTIAL DEAL DETAILS

StockPreferred Apartment Communities, Inc.SymbolAPTS
Date Announced02/09/2022Source Bloomberg
TypeCompany Seeking Strategic Alternatives
Date of Confirmation: 02/16/2022Price 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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