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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1481832	Preferred Apartment Communities Inc	APTS	Real Estate Investment Trusts (6798)	271712193

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1231790	M Daniel Dupree	Preferred Apartment Communities, Inc. 3284 Northside Parkway Nw, Suite 150 Atlanta GA US 30327	Chief Investment Officer	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2015-01-02	4,027	$9.72	4,027	No	4	P	Indirect	By NELL Partners, Inc.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By NELL Partners, Inc.

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	40,197	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Class A Units	$0.00			30,571	30,571	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	30,571	30,571	Direct

Footnotes

On January 2, 2015, Mr. DuPree indirectly acquired a 10% ownership interest in NELL Partners, Inc., which owns 40,265 shares of the Company, for an aggregate purchase price of $39,147.50. The per share price was determined by dividing the aggregate purchase price for the 10% owneship interest in NELL Partners, Inc. by the number of shares of the Company indirectly acquired.
Represents Class A Units ("Class A Unit") of Preferred Apartment Communities Operating Partnership, L.P. (the "Operating Partnership"), of which Preferred Apartment Communities, Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. Class A Units do not expire.