Preferred Apartment Communities Inc. has acquired a multifamily property in Davenport. The property, located at 1008 Laguna Loop, consists of 280 units with an average price per unit of $321,429. Catalyst Development Partners acted as the seller in this transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $90,000,000
• Units: 280
• Price Per Unit: $321,429

John A. Williams of Preferred Apartment Communities Inc. represented the buyer in this deal. The transaction took place on March 24, 2022, marking a successful acquisition for the buyer.