Preferred Apartment Communities' operating partnership Preferred Apartment Communities Operating Partnership committed to acquire a Class A office building in the Central Perimeter submarket of Atlanta, Georgia pursuant to a signed Agreement of Purchase and Sale with SPUS6 Three Ravinia. The office building is 98% leased to a high credit tenant base, including InterContinental Hotels Group and State Farm, with an average remaining lease term of approximately 10 years. PAC expects this transaction will close later this month. The company expects to fund this transaction with planned debt financing and a combination of cash on hand; borrowings under its senior secured credit facility, net proceeds from additional issuances of Series A Redeemable Preferred Stock and Warrant Unit offering and proceeds from the anticipated disposition of certain assets.