In the News

Houston Chroncicle
Oct 21, 2016

Atlanta company adds another local shopping center to portfolio

HOUSTON CHRONICLE Atlanta-based Preferred Apartment Communities has put another local retail property in its basket with the purchase of the Champions Village shopping center in northwest Houston. The deal, made through its New Market Properties subsidiary, represents the final purchase of an eight-property portfolio from Houston-based Hines. The Randalls-anchored center, at FM 1960 and Champions Forest Drive and totaling 403,523 square feet, is the largest of the properties acquired and is 82 percent leased. The portfolio, which totals just over…

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Harris Teeter
Aug 11, 2016

Competing grocers Harris Teeter and Publix upping the ante in Triangle neighborhood

TRIANGLE BUSINESS JOURNAL Big changes are underway in the battle for grocery shoppers at the corners of Rogers and Forestville roads, next to the Heritage golf community in Wake Forest. With the new Publix-anchored Shoppes at Heritage Village under construction across the street, the more established Heritage Station shopping center anchored by a recently-expanded Harris Teeter grocery store has been sold to a new investor. An announcement Wednesday by Atlanta-based Preferred Apartment Communities Inc. (NYSE: APTS) that its retail subsidiary has…

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Aug 09, 2016

Hines REIT Begins Property Selloff

COSTAR Hines Real Estate Investment Trust Inc. has begun proceeding with its plan of liquidation. This week, Preferred Apartment Communities Inc. acquired seven grocery-anchored shopping centers with 650,400 rentable square feet in Georgia, Florida, Texas and North Carolina for $158 million, about $243/square foot. Preferred purchased the properties through its wholly-owned subsidiary New Market Properties LLC. Last week, Fortis Property Group, a Brooklyn, NY-based investor, acquired the signature Chase Tower at 2200 Ross Ave. in downtown Dallas from Hines REIT…

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Sandy Plains Exchange Community
Jul 15, 2016

John Williams Shops Hines for Prominent Retail Portfolio

BISNOW | ATLANTA REAL ESTATE NEWS Iconic apartment developer and founder of Post Properties John Williams is buying a grocery cart-full of shopping center properties from a fund operated by Hines Interests. Williams’ New Market Properties, a division of his Preferred Apartment Communities, is under contract to buy eight retail properties from Hines REIT for $209.1M, or $198/SF, including three prominent suburban Atlanta centers. The deal is expected to close in August. The Atlanta properties include: Sandy Plains Exchange, a 73k…

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