Second in two days
As we noted in this blog, yesterday’s filing by Stag Industrial Inc. was the first IPO by a REIT since May. Now, today, we have the second such offering in two days. The S-11 filed by Preferred Apartment Communities, Inc., seeks up to $75 million for a venture involving “multifamily properties,” in contrast to the “single tenant industrial properties” focused on by Stag. The offering does not yet have an underwriter.