Preferred Apartments To Sell Eight-Property Student Housing Portfolio

Atlanta — According to a filing with the SEC, subsidiaries of Atlanta-based Preferred Apartment Communities have agreed to sell eight student housing communities to GMH Capital Partners for $475.4 million. The properties total 6,095 beds.

The eight properties are:

  • The Bloc, a 556-bed community in Lubbock, Texas.
  • The Retreat at Orlando, an 894-bed community in Orlando.
  • Ursa, an 840-bed community in Waco, Texas.
  • Haven49, an 887-bed community in Charlotte, North Carolina.
  • The Tradition, an 808-bed community in College Station, Texas.
  • NxNW, a 679-bed community in Tallahassee, Florida.
  • SoL, a 639-bed community in Tempe, Arizona.
  • Stadium Village, a 792-bed community in Kennesaw, Georgia.

The transaction is anticipated to close in September.