Preferred Apartment Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that, in connection with its previously announced acquisition by Blackstone Real Estate Income Trust, Inc. ("BREIT"), which, subject to PAC stockholder approval at the upcoming special meeting and satisfaction of other customary conditions, is expected to close on or about June 9, 2022, PAC will:
suspend voluntary redemptions of shares of Series A Redeemable Preferred Stock of the Company, $0.01 par value per share, Series A1 Redeemable Preferred Stock of the Company, $0.01 par value per share, Series M Redeemable Preferred Stock of the Company, $0.01 par value per share, and Series M1 Redeemable Pr