Preferred Apartment Communities Announces Internalization Transaction
Vinson & Elkins advised Preferred Apartment Advisors, LLC (the “Manager”) and NMP Advisors, LLC (the “Sub-Manager”) in connection with Preferred Apartment Communities, Inc.’s internalization of the functions performed by the Manager and Sub-Manager by acquiring the entities that own the Manager and the Sub-Manager for an aggregate purchase price of $154 million, plus up to $25 million of potential additional earnout consideration.
The V&E corporate team was led by partner Greg Cope with assistance from senior associates Dylan Coons and Jing Tong and associates Burke Wendt, Alex Lewis and Chandler Jones. Also advising were partner Chris Mangin, senior associate Paige Anderson and associate Daniel Henderson; partner Sean Becker and counsel Martin Luff; partner Shane Tucker and counsel Dario Mendoza; partner Matt Dobbins and senior associate Jennifer Cornejo; partner Chris Popov; partner Devika Kornbacher and senior associate Sean Hill; counsel Scot Dixon; and senior associate Alex Kamel.
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