Preferred Apartment Communities, Inc. Announces Proposed Public Offering of Common Stock

ATLANTA, Nov. 11, 2013

(Logo: http://photos.prnewswire.com/prnh/20110420/HS87275LOGO)

Wunderlich Securities, Inc. is acting as the sole book-running manager for the offering, Oppenheimer & Co. Inc. and Compass Point Research & Trading, LLC are serving as co-lead managers for the offering and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB: NHLD), is acting as co-manager for the offering.

The securities described above are being offered by PAC pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"), which became effective on July 19, 2013.  A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.  Copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained from Wunderlich Securities, Inc., 6000 Poplar Avenue, Suite 150, Memphis, Tennessee 38119. Electronic copies of the prospectus supplements may be obtained by visiting EDGAR on the SEC's website at http://www.sec.gov/.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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 construction of multifamily communities and other properties.  As a secondary strategy, we also 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 10% of our total assets in other real estate related investments, 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.