Preferred Apartment Communities, Inc. Announces Proxy Advisory Firm ISS Recommends Stockholders Vote "FOR" Proposed Acquisition by Blackstone Real Estate Income Trust, Inc.

May 26, 2022

Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC”) today announced that a leading independent proxy advisory firm Institutional Shareholder Services Inc. (“ISS”) has recommended that stockholders vote “FOR” the previously announced all-cash acquisition of PAC by Blackstone Real Estate Income Trust, Inc. (“BREIT”) at PAC’s upcoming Special Meeting of Stockholders (the “Special Meeting”) scheduled for June 7, 2022 at 9:00 a.m., Eastern Time.

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