Preferred Apartment Communities Inc. (PAC) recently announced from Atlanta, Georgia an outlay of approximately $9.8 million to support a 542-bed student housing development in conjunction with Haven Campus Communities for Tampa’s University of South Florida (USF).
PAC negotiated an opportunity to purchase the project once stabilization is achieved. The structure will contain 158 units near the USF campus.
"We're pleased to have the opportunity to originate another college campus housing loan investment located near a thriving university," Leonard A. Silverstein, PAC’s president and COO, said.
Preferred Apartment Communities Inc. is a Maryland corporation with additional offices located in Atlanta, Georgia. It was co-founded by John Williams and Leonard Silverstein to operate multifamily properties nationwide.
Striving to create superior service, luxury apartment interior features, and exceptional property amenities in outstanding locations, PAC recently developed an online concierge service as an adjunct to its existing services.
Haven Campus Communities focuses on the development, management and ownership of high quality student housing communities throughout the U.S. Haven’s previous projects span Texas, Mississippi and Georgia.
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