8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 12, 2007

NNN Apartment REIT, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Maryland	333-130945	20-3975609
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
1551 N. Tustin Avenue, Suite 200, Santa Ana, California		92705
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 714-667-8252

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) Effective April 12, 2007, our Executive Committee appointed Scott D. Peters, age 49, to serve as a director and a member of our Executive Committee. Mr. Peters has served as our Executive Vice President since our formation and also served as our Chief Financial Officer from formation through April 2006. Mr. Peters also serves as the Executive Vice President and Chief Financial Officer of our advisor. He has also served as the Chief Executive Officer, President and a director of NNN Realty Advisors, Inc., our sponsor, since its formation in September 2006 and as the Chief Executive Officer of Triple Net Properties, LLC, the managing member of our advisor, since November 2006. From September 2004 to October 2006, Mr. Peters served as the Executive Vice President and Chief Financial Officer of Triple Net Properties, LLC. Since December 2005, Mr. Peters has also served as the Chief Executive Officer and President of G REIT, Inc., having previously served as its Executive Vice President and Chief Financial O fficer since September 2004. Mr. Peters also served as the Executive Vice President and Chief Financial Officer of T REIT, Inc. from September 2004 to December 2006 and has served as the Chairman and Chief Executive Officer of NNN Healthcare/Office REIT, Inc. since April 2006. From February 1997 to February 2007, Mr. Peters served as Senior Vice President, Chief Financial Officer and a director of Golf Trust of America, Inc., a publicly traded real estate investment trust. Mr. Peters received his B.B.A. degree in Accounting and Finance from Kent State University in Ohio.

Item 7.01 Regulation FD Disclosure.

On April 18, 2007, we issued a press release announcing the appointment of Scott D. Peters to serve as a director and a member of our Executive Committee. A copy of the press release, which is hereby incorporated into this filing in its entirety, is attached to this Current Report on Form 8-K as Exhibit No. 99.1

The information furnished under this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit.

99.1 NNN Apartment REIT, Inc. Press Release dated April 18, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NNN Apartment REIT, Inc.
April 18, 2007	By:	/s/ Stanley J. Olander, Jr.
		Name: Stanley J. Olander, Jr.
		Title: Chief Executive Officer and President

Exhibit Index

Exhibit No.	Description
99.1	NNN Apartment REIT, Inc. Press Release dated April 18, 2007

EX-99.1

[NNN Apartment REIT, Inc. logo]

Contact: Jill Swartz

Triple Net Properties, LLC

1551 N. Tustin Avenue, Suite 300

Santa Ana, California 92705

714-667-8252 ext. 251

jswartz@nnnrealtyadvisors.com

SCOTT D. PETERS APPOINTED DIRECTOR OF NNN APARTMENT REIT, INC. AND MEMBER OF EXECUTIVE COMMITTEE

Santa Ana, California, April 18, 2007 – Scott D. Peters was appointed by the executive committee to serve as a director on NNN Apartment REIT, Inc.’s board of directors and as a member of the executive committee on April 12, 2007.

“Scott Peters is a tremendous addition to the NNN Apartment REIT board of directors,” said NNN Apartment REIT Chief Executive Officer and President Stanley J. Olander, Jr. “His extensive executive experience with real estate investment trusts further strengthens an already impressive team that directs NNN Apartment REIT.”

Currently, Peters serves as executive vice president of NNN Apartment REIT, Inc., and the executive vice president and chief financial officer of NNN Apartment REIT Advisor, LLC, the company’s advisor. Peters has also served as the chief executive officer, president and a director of NNN Realty Advisors, Inc., the sponsor of NNN Apartment REIT, Inc., since its formation in September 2006, and as the chief executive officer of Triple Net Properties, LLC, the managing member of the company’s advisor, since November 2006. Since April 2006, Peters has served as the chairman and chief executive officer of NNN Healthcare/Office REIT, Inc. and since December 2005, he has also served as the chief executive officer and president of G REIT, Inc. In addition, Peters previously served as senior vice president, chief financial officer and director of Golf Trust America, Inc., a publicly traded real estate investment trust.

NNN Realty Advisors, Inc., a nationwide commercial real estate asset management and services firm, is the sponsor of NNN Apartment REIT, Inc. NNN Realty Advisors and affiliates manage a growing portfolio of roughly 34 million square feet of real estate, including more than 7,300 apartment units, with a combined market value of approximately $4.6 billion. NNN Realty Advisors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investments, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, real estate investment trusts (REITs), value added property funds, and institutional investments.

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