PREFERRED APARTMENT COMMUNITIES ACQUIRES 204-UNIT COMPLEX

HAMPTON, VA. — Preferred Apartment Communities has purchased the 204-unit Oxford Trail Apartments, located in Hampton, for $23.5 million. The complex is currently 98 percent leased. Preferred Apartment Communities purchased Oxford Trail Apartments though a loan originated by Jones Lang LaSalle and expects the loan to be transferred to Freddie Mac within 60 days.