ATLANTA, March 4, 2021 /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that on March 1, 2021 it closed on a real estate loan investment of up to approximately $16.8 million in connection with Crosland Southeast's plans to develop a 320-unit Class A multifamily community located in Orlando, Florida. The property is part of Metro West, an 1,800-acre mixed-use development currently comprising over 2.5 million SF of office and retail, Valencia College's West Campus, and MetroWest Golf Club. Additionally, with this investment, PAC received an option to purchase the multifamily community following stabilization.