Preferred Apartment Communities, Inc. Announces Estimated Income Tax Treatment of 2015 Distributions

Jan 25, 2016, 16:30 ET from Preferred Apartment Communities, Inc.

ATLANTA, Jan. 25, 2016 /PRNewswire/ -- Preferred Apartment Communities, Inc. (NYSE: APTS) (the "Company") announced today how it expects its 2015 distributions to be classified for federal income tax purposes.  Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of these distributions. The estimated distribution classifications are shown on the charts below.  This release is based on the preliminary results of work on the Company's tax filings and is subject to correction or adjustment when the filings are completed.

The Company is releasing information at this time to aid those required to distribute Form 1099s on the Company's distributions.  No material change in these classifications is expected.

Common Stock (CUSIP # 74039L103)

Record Date

Payment Date

Cash Distribution Per Share

Ordinary Dividends Form 1099 Box 1a

Capital Gain Distribution Form 1099 Box 2a

Nondividend Distributions Form 1099 Box 3

3/13/2015

4/15/2015

$0.175

33.0%

0.0%

67.0%

6/15/2015

7/15/2015

$0.18

33.0%

0.0%

67.0%

9/15/2015

10/15/2015

$0.18

33.0%

0.0%

67.0%

12/15/2015

1/15/2016

$0.1925

(1)

33.0%

0.0%

67.0%

 

(1)

Note: The Common Stock dividend paid on 1/15/16 is taxable in Year 2015.

Series A Redeemable Preferred Stock

(CUSIP #'s 74039L 202, 74039L 301, 74039L 400, 74039L 707, 74039L 806, 74039L 889, 74039L 871, 74039L 863, 74039L 855, 74039L 848, 74039L 822, 74039L 830, 74039L 814, 74039L 798, 74039L 780, 74039L 772, 74039L 756, 74039L 749, 74039L 731, 74039L 723, 74039L 715, 74039L 699, 74039L 681, 74039L 673, 74039L 665, 74039L 657, 74039L 640, 74039L 632, 74039L 624, 74039L 616, 74039L 590, 74039L 582, 74039L 574, 74039L 566, 74039L 558, 74039L 541, 74039L 533, 74039C 202, 74039C 301, 74039C 400, 74039C 509, 74039C 608, 74039C 707, 74039C 806, 74039C 889, 74039C 871, 74039C 863, 74039C 855, 74039C 848, 74039C 830, 74039C 822, 74039C 814, 74039C 798, 74039C 780, 74039C 772, 74039C 764, 74039C 756, 74039L 525, 74039C 749, 74039E 208, 74039E 307, 74039E 406, 74039E 505, 74039E 604, 74039C 731, 74039E 703, 74039C 723, 74039E 802, 74039C 715, 74039C 699, 74039E 885, 74039E 877, 74039C 681, 74039E 869, 74039E 851, 74039E 844, 74039E 836, 74039E 828, 74039E 810, 74039E 794, 74039E 786, 74039E 778, 74039J 207, 74039J 306, 74039J 405 and 74039J 504)

Record Date

Payment Date

Cash Distribution Per Share(1)

Ordinary Dividends Form 1099 Box 1a

Capital Gain Distribution Form 1099 Box 2a

Nondividend Distributions Form 1099 Box 3

1/30/2015

2/20/2015

$5.00

100.0%

0.0%

0.0%

2/27/2015

3/20/2015

$5.00

100.0%

0.0%

0.0%

3/31/2015

4/20/2015

$5.00

100.0%

0.0%

0.0%

4/30/2015

5/20/2015

$5.00

100.0%

0.0%

0.0%

5/29/2015

6/22/2015

$5.00

100.0%

0.0%

0.0%

6/30/2015

7/20/2015

$5.00

100.0%

0.0%

0.0%

7/31/2015

8/20/2015

$5.00

100.0%

0.0%

0.0%

8/31/2015

9/21/2015

$5.00

100.0%

0.0%

0.0%

9/30/2015

10/20/2015

$5.00

100.0%

0.0%

0.0%

10/30/2015

11/20/2015

$5.00

100.0%

0.0%

0.0%

11/30/2015

12/20/2015

$5.00

100.0%

0.0%

0.0%

12/31/2015

1/20/2016

$5.00

(2)

100.0%

0.0%

0.0%

 

(1)

Dividend amount shown is for the full month in which the record date occurs.  This amount is subject to additional amounts paid on shares of Series A Redeemable Preferred Stock issued in the month prior to the record date for the period from the date of issuance to the end of the month prior to the record date.  Notwithstanding the different amounts, the classification for federal income tax purposes is not altered.

(2)

Note: The Series A Redeemable Preferred Stock dividend paid on 1/20/16 is taxable in Year 2015.

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States.  As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make mezzanine loans, provide deposit arrangements, or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.  As a secondary strategy, we may acquire or originate senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest not more than 20% of our assets in other real estate related investments such as grocery-anchored necessity retail properties, senior mortgage loans, subordinate loans or mezzanine debt secured by interests in grocery-anchored necessity retail properties, membership or partnership interests in grocery-anchored necessity retail properties and other grocery-anchored necessity retail related assets as determined by our manager as appropriate for us.  Preferred Apartment Communities, Inc. has elected to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, as amended, commencing with its tax year ended December 31, 2011.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as "may", "trend", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "goals", "objectives", "outlook" and similar expressions.  Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, those disclosed in PAC's filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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SOURCE Preferred Apartment Communities, Inc.