Preferred Office Properties Provides $67.6M Loan for Office Building in Atlanta’s West Midtown District

ATLANTA — Preferred Office Properties, a subsidiary of Preferred Apartment Communities Inc., has closed an investment loan worth up to $67.6 million for 8 West, a 187,000-square-foot office building planned to rise in Atlanta’s West Midtown district. Preferred Office Properties has the option to purchase 8 West upon stabilization from the developers, Atlantic Capital Properties and Gateway Development. Situated at the corner of Howell Mill Road and 8th Street, 8 West will be built on a speculative basis and cost roughly $150 million to develop, according to the Atlanta Business Chronicle.