Preferred Apartment Communities, a newly organized REIT formed to acquire multifamily properties in the US, filed on Thursday with the SEC to raise up to $75 million in an initial public offering. The Atlanta, GA-based company, which was founded in 2009 and backed by urban apartment REIT veteran John A. Williams, plans to use the poceeds to acquire two or more properties. The company intends to list on the NYSE Amex under the symbol APTS. No pricing terms were disclosed.
