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BRIEF-Preferred Apartment Communities Inc says acquired asset through New Market Properties Llc

April 24 Preferred Apartment Communities Inc

* Preferred Apartment Communities Inc announces acquisition of a grocery-anchored shopping center

* Preferred Apartment Communities Inc - acquired asset through its wholly-owned subsidiary New Market Properties Llc

* Preferred Apartment Communities Inc - company financed acquisition utilizing a non-recourse first mortgage loan from principal life insurance company

* Preferred Apartment Communities Inc - first mortgage loan is about $11.5 million, bears interest at fixed rate of 3.99% per annum and matures on May 1, 2027 Source text for Eikon: Further company coverage:

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