Preferred Apartment Communities, Inc. Completes Disposition of Brookwood Center Office Building for $55.0 Million

ATLANTA--(BUSINESS WIRE)--Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced its disposition, on November 12th, of Brookwood Center, an office property located in Birmingham, Alabama, to Pope & Land, a highly regarded Atlanta-based real estate firm, along with Fairway Investments, a respected local Birmingham real estate firm. The purchase price was $55.0 million, including assumption of debt, which will result in net proceeds at closing of approxima