Preferred Apartment buys grocery-anchored shopping center

Preferred Apartment buys grocery-anchored shopping center

Preferred Apartment Communities (NYSE:APTS) acquires a 264,152-square-foot shopping center in Bowie, MD, about 15 miles east of Washington, DC, and 20 miles south of Baltimore, MD.

The shopping center is anchored by a Giant Food supermarket.

The acquisition increases the size of its New Market Properties subsidiary portfolio to 47 grocery-anchored shopping centers in nine states.

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