Preferred Apartment Communities Acquires Newly Built Multifamily Complex in Florida’s Panhandle

PANAMA CITY BEACH, FLA. — Preferred Apartment Communities Inc. (PAC) has acquired Parkside at the Beach, a 288-unit multifamily complex in Panama City Beach. The community was built in 2019 and is situated at 17225 Panama City Beach Parkway, less than a mile from the beach. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, sundeck, business center, fitness center and a clubhouse. An undisclosed lender in Freddie Mac’s Optigo program provided a 10-year acquisition loan, which features a fixed 2.95 percent interest rate. The seller/developer and sales price were not disclosed.