Preferred Apartment Communities, Inc. announced that, effective as of January 1, 2014, Daniel M. DuPree, who has served as a member of the Board of Directors of the company since its initial public offering in 2011, will become Chief Investment Officer of the company and remain as Vice Chairman of the Board of Directors. Prior to serving on the Board of the company, Mr. DuPree was President and Chief Operating Officer of Cousins Properties Incorporated from 1992 to 2001 and from 2003 to 2009. In connection with Mr. DuPree becoming an officer of the company, Howard A. McLure has been designated as the lead independent director of the Board.

Also, the company announced that it has increased the size of its Board of Directors from seven to eight members, and has elected William J. "Johnny" Gresham, Jr. to serve as a new independent director commencing January 1, 2014, to serve until the next annual meeting of the company's stockholders in 2014 and until his successor is duly elected and qualified, or upon the earlier of his death, resignation or removal. Gresham was also appointed to the compensation and the nominating and corporate governance committees of the board effective January 1, 2014. Gresham is Georgia commercial real estate entrepreneur, a former Member of the Georgia House of Representatives, a 17-year board member for the Georgia Department of Transportation where he also served as Chairman and has served on many other boards of directors.