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Preferred Apartments agrees to $47.4M Sarasota purchase

Mar. 09, 2015 10:43 AM ETBlackstone Inc. (BX)By: Stephen Alpher, SA News Editor1 Comment
  • The Venue at Lakewood Ranch is a 237-unit Class A apartment community in Sarasota. Preferred Apartments (NYSE:APTS) is in discussions with Freddie Mac for a first mortgage at 65% LTV, with seven-year maturity, and interest rate at 1.51% over the 7-year U.S. Treasury yield.
  • Source: Press Release

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Great acquisition by APTS. Secondary coming soon?
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