Preferred Apartment Communities, Inc. (NYSE: APTS) is a Maryland REIT company that mainly owned and operated multi-family properties when it was established, and to a lesser extent owned and operated a grocery store fixed shopping mall, category A Office buildings and student apartments.
Preferred Apartment Communities (APTS):
As part of the Preferred Apartment Communities business strategy, the company may sign forward purchase contracts or purchase options for multi-family families to be built, and may provide real estate-related loans, provide deposit arrangements, or when necessary or appropriate. Provide performance guarantees related to the development of multi-family communities.
As a secondary strategy, Preferred Apartment Communities may acquire or initiate senior mortgage loans, subprime loans or real estate loans that use multi-family real estate interests, multi-family properties and other multi-family-related assets as collateral for membership or partnership interests. , And invest a small part of the company’s assets in other real estate or real estate-related investments, including other income-generating property types, senior mortgages, subprime loans, or other income-generating property types as collateral. The manager determines the real estate loan secured by the membership or partnership interest for other types of property that generate income.
As of September 30, 2019, Preferred Apartment Communities holds approximately 98.2% of the shares of the operating partner Preferred Apartment Communities Operating Partnership LP.