Preferred Apartment Communities, Inc. (NYSE: APTS) functions as a real estate investment trust, primarily concentrating on the acquisition and management of upscale (Class A) apartment complexes. In addition to its core multifamily holdings, the company also makes targeted investments in retail centers anchored by grocery stores, prime office buildings, and student housing developments. The overarching goal of Preferred Apartment Communities is to deliver consistent and appealing returns to its shareholders. This is achieved by investing in properties that generate income and by providing or securing real estate loans for multifamily projects. As of September 30, 2020, the firm's portfolio comprised 125 properties spanning 15 states, with a significant portion located in the Southeastern United States.