Atlanta leads the country in apartment lease giveaways, analysis finds

It wasn’t all that long ago that a month of free rent—and especially two months free rent—was extremely rare, if not unheard of, with Atlanta’s new crop of top-shelf apartment communities.

Now, per a recent national market analysis, rent concessions are not only the new normal in Atlanta, they’re more normal here than any other major city.

It’s no surprise that Atlanta ranks among the 15 cities to have received nearly half of all new apartment supply delivered across the U.S. in this long development cycle, which dates back to 2010.

But among those markets, metro Atlanta leads the pack in terms of average rent discounts of 9.1 percent as of March, which translates to more than one month’s free rent, according to RealPage, a provider of property management software solutions.

In Atlanta, analysts noted, apartment development has been “highly concentrated in a handful of historically high-performing submarkets in the urban core and northern suburbs,” and the majority of it has been high-priced luxury rentals, which has continued to lag older stock in terms of rent growth at the national level.

Real Page

Across the country, developers have packed on more than 1 million new apartments since 2015 alone.

The flood of new units has increased options for prospective renters and created a more heated leasing competition in cities far and wide. The RealPage team did note that developers have generally changed strategies in attempts to fill up new apartments as quickly as possible, conceding free rents to get bodies in the building.

It’s not the only recent report to suggest Atlanta’s volcanic rental scene isn’t cooling a bit, although deploying the “bubble” description could be premature, as Coldwell Banker recently pointed out.

In Atlanta proper, rents that were surging not long ago had declined, on average, for three consecutive months, per January’s Apartment List rent report. Granted, 2017 ended with Atlanta rents being 2.2 percent higher than a year prior, but the growth lagged the national average (3.4 percent) and that of Georgia at large (3.8 percent).

Still, new supply hasn’t shown many signs of slowing.

According to RENTCafé, metro Atlanta was expected to log more apartment deliveries in 2017—almost 12,000—than all but seven other markets.

That represented a 40 percent increase over 2016, which would suggest the apartment boom is still kicking, as can be evidenced by a stroll through virtually any central Atlanta neighborhood.

Fun little 1920s bungalow in Adair Park seeks $325,000

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Atlanta construction sector upbeat, survey says - ANNU-COM

Preferred Apartment Communities, Inc. Recognized as one of Atlanta’s Best Places to Work in 2018 – Atlanta Business Chronicle

ATLANTA, March 7, 2018 /PRNewswire/ — Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced that it has been recognized as one of Atlanta’s 2018 Top Workplaces by The Atlanta Journal Constitution (AJC). 2018 marks the first year that PAC has been included in the AJC’s list of honorees, following another very strong year of growth and performance for PAC and its stockholders.

“Our success as an organization is driven largely by the depth and experience of our associates and our continued commitment to a healthy workplace culture that we have worked so hard to create,” said John A. Williams, Chief Executive Officer of PAC. Mr. Williams added, “It is truly an honor to be named among the 2018 Top Workplaces in Atlanta, and it is a great feeling knowing that our associates believe in and are committed to being the best real estate investment trust in the nation.”

The AJC Top Workplaces are determined based solely on employee feedback. The employee survey is conducted by Energage LLC, a leading research firm on organizational health and employee engagement. The survey measures several aspects of workplace culture, such as overall happiness, management performance, workplace environment and career progression opportunities. The top 150 companies, grouped by size from small, medium and largest, were then ranked based on highest tabulated scores. There were more than 2,300 companies nominated or requested to participate in this year’s competition. PAC has no employees of its own; employees of Preferred Apartment Advisors, LLC, and its affiliates completed the survey and provide all personnel for PAC.

The AJC published the complete list of Top Workplaces on March 4, 2018. For more information, visit https://www.ajc.com/top-workplaces/.

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties. As a secondary strategy, we may acquire or originate senior mortgage loans, subordinate loans or real estate loans secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest a lesser portion of our assets in other real estate related investments, including other income-producing property types, senior mortgage loans, subordinate loans or real estate loans secured by interests in other income-producing property types, membership or partnership interests in other income-producing property types as determined by our manager as appropriate for us. At December 31, 2017, the Company was the approximate 97.8% owner of Preferred Apartment Communities Operating Partnership, L.P., the Company’s operating partnership. Preferred Apartment Communities, Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended, commencing with its tax year ended December 31, 2011. Learn more at www.pacapts.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as “may”, “trend”, “will”, “expects”, “plans”, “estimates”, “anticipates”, “projects”, “intends”, “believes”, “goals”, “objectives”, “outlook” and similar expressions. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, those disclosed in PAC’s filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

Additional Information

The SEC has declared effective the registration statement (including prospectus) filed by the Company for each of the offerings to which this communication may relate. Before you invest, you should read the final prospectus, and any prospectus supplements, forming a part of the registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the offering to which this communication may relate. In particular, you should carefully read the risk factors described in the final prospectus and in any related prospectus supplement and in the documents incorporated by reference in the final prospectus and any related prospectus supplement to which this communication may relate. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or its dealer manager, Preferred Capital Securities, LLC, with respect to PAC’s mShares Redeemable Preferred Stock Offering and Series A Redeemable Preferred Stock and Warrant Unit Offering, and JonesTrading Institutional Services LLC, with respect to PAC’s ATM Common Stock Offering, will arrange to send you a prospectus if you request it by calling Leonard A. Silverstein at (770) 818-4100, 3284 Northside Parkway NW, Suite 150, Atlanta, Georgia 30327.

The ATM Common Stock Offering prospectus supplement, dated July 10, 2017, including a base prospectus, dated May 17, 2016, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000110/atmprospectusspring2017.htm

The mShares Redeemable Preferred Stock Offering prospectus, dated January 19, 2017, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000008/a424prospectus-mshares1.htm

The Series A Redeemable Preferred Stock and Warrant Unit Offering prospectus, dated March 16, 2017, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000061/a424prospectus-15bseriesar.htm

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SOURCE Preferred Apartment Communities, Inc.

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Preferred Apartment Communities, Inc. Announces Investment in San ...

Preferred Apartment Communities, Inc. Announces Acquisition of a 310-Unit Multifamily Community in Atlanta, Georgia – Atlanta Business Chronicle

ATLANTA, Feb. 28, 2018 /PRNewswire/ — Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced the acquisition of a 310-unit Class A multifamily community in the Atlanta, Georgia MSA constructed in 2016 called Green Park. “The acquisition of Green Park came through a real estate loan investment that PAC made over three years ago, the proceeds of which were used to partially fund the development of Green Park,” said Leonard A. Silverstein, the President and Chief Operating Officer for PAC. Mr. Silverstein added, “This acquisition further demonstrates the success of our unique real estate loan investment program, which continues to create a pipeline of attractive, off-market acquisition opportunities at contractual discounts, while providing compelling returns during construction.”

The Company financed the acquisition utilizing a non-recourse first mortgage loan provided by Allianz. KeyBank National Association placed the loan for the Company. The first mortgage loan is approximately $39.75 million, bears interest at a fixed rate of 4.09% per annum, has a ten-year term and amortizes based on a 30-year schedule. There are no loan guaranties provided by PAC or our operating partnership.

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties. As a secondary strategy, we may acquire or originate senior mortgage loans, subordinate loans or real estate loans secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest a lesser portion of our assets in other real estate related investments, including other income-producing property types, senior mortgage loans, subordinate loans or real estate loans secured by interests in other income-producing property types, membership or partnership interests in other income-producing property types as determined by our manager as appropriate for us. At December 31, 2017, the Company was the approximate 97.8% owner of Preferred Apartment Communities Operating Partnership, L.P., the Company’s operating partnership. Preferred Apartment Communities, Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended, commencing with its tax year ended December 31, 2011. Learn more at www.pacapts.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as “may”, “trend”, “will”, “expects”, “plans”, “estimates”, “anticipates”, “projects”, “intends”, “believes”, “goals”, “objectives”, “outlook” and similar expressions. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, those disclosed in PAC’s filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

Additional Information

The SEC has declared effective the registration statement (including prospectus) filed by the Company for each of the offerings to which this communication may relate. Before you invest, you should read the final prospectus, and any prospectus supplements, forming a part of the registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the offering to which this communication may relate. In particular, you should carefully read the risk factors described in the final prospectus and in any related prospectus supplement and in the documents incorporated by reference in the final prospectus and any related prospectus supplement to which this communication may relate. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or its dealer manager, Preferred Capital Securities, LLC, with respect to PAC’s mShares Redeemable Preferred Stock Offering and Series A Redeemable Preferred Stock and Warrant Unit Offering, and JonesTrading Institutional Services LLC, with respect to PAC’s ATM Common Stock Offering, will arrange to send you a prospectus if you request it by calling Leonard A. Silverstein at (770) 818-4100, 3284 Northside Parkway NW, Suite 150, Atlanta, Georgia 30327.

The ATM Common Stock Offering prospectus supplement, dated July 10, 2017, including a base prospectus, dated May 17, 2016, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000110/atmprospectusspring2017.htm

The mShares Redeemable Preferred Stock Offering prospectus, dated January 19, 2017, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000008/a424prospectus-mshares1.htm

The Series A Redeemable Preferred Stock and Warrant Unit Offering prospectus, dated March 16, 2017, can be accessed through the following link:

https://www.sec.gov/Archives/edgar/data/1481832/000148183217000061/a424prospectus-15bseriesar.htm

SOURCE: Preferred Apartment Communities, Inc.

View original content with multimedia:http://www.prnewswire.com/news-releases/preferred-apartment-communities-inc-announces-acquisition-of-a-310-unit-multifamily-community-in-atlanta-georgia-300606084.html

SOURCE Preferred Apartment Communities, Inc.

The information on this page is provided by PR Newswire. All rights reserved. Reproduction or redistribution of this content without prior written consent from PR Newswire is strictly prohibited. Atlanta Business Chronicle is not responsible for this content. Learn more about this service.

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What People Are Looking For In Atlanta Apartments

There are lots of apartment or condos for rental fee in Atlanta, GA. This leaves the inquiry: exactly how can you find apartment or condos for lease in Atlanta that are best for you?

Did you conserve up sufficient cash and also are ultimately able to vacate your moms and dad’s residence? It has to really feel fantastic to taste the flexibility. Rash activities could commonly be the incorrect ones, as well as discovering the best location to live is much more vital compared to you assume.

1. Spending plan – Just check out advertisements of apartment or condos you will certainly have the ability to manage. Other than lease, you will certainly likewise require loan on a monthly basis for food, transport, amusement, as well as various other needs.

2. Location choice – Determine where location of Atlanta you intend to live. Are you a nature enthusiast and also like the borders of this desert city, or are you an event pet and also wish to be close to bars and also club?

Services – If you have your very own auto you could live practically anywhere, however if you do depend on public transport, it would certainly be best to look for apartment or condos for rental fee in Atlanta near purchasing malls, physicians and also healthcare facilities, and so on

4. Your lease will certainly consist of the energies, accessibility to a swimming pool, encased personal outdoor patios, a protected play area, a basketball court, a club home with health and fitness facility, a washing center, and also a lot extra.

Services – If you have your very own vehicle you could live essentially anywhere, yet if you do depend on public transport, it would certainly be best to look for homes for rental fee in Atlanta near purchasing malls, medical professionals as well as medical facilities, and so on

Rash activities could usually be the incorrect ones, and also discovering the appropriate area to live is much more crucial compared to you assume.

There are several apartment or condos for a rental fee in Atlanta, GA. This leaves the inquiry: just how can you situate houses for rental fee in Atlanta that are ideal for you?

Having a checklist of your concerns will certainly be handy in limiting your search. It will certainly make it a great deal much easier to establish which houses for rental fee in Atlanta are best for you.