CUSIP No. 74039L103

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO §240.13D-1(b), (c)
AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.)*

Preferred Apartment Communities, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

74039L103

(CUSIP Number)

December 31, 2019

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

x Rule 13d-1(b)

o Rule 13d-1(c)

o Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following page(s))

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1.	NAME OF REPORTING PERSONS
	Nuveen Asset Management, LLC              27-4357327
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) o
		(b) o
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

5.	SOLE VOTING POWER	1,622,753
6.	SHARED VOTING POWER	0
7.	SOLE DISPOSITIVE POWER	1,622,753
8.	SHARED DISPOSITIVE POWER	0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,622,753
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	3.54%
12.	TYPE OF REPORTING PERSON
	IA

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1.	NAME OF REPORTING PERSONS
	TIAA-CREF Investment Management, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) o
		(b) o
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

5.	SOLE VOTING POWER	296,592
6.	SHARED VOTING POWER	0
7.	SOLE DISPOSITIVE POWER	296,592
8.	SHARED DISPOSITIVE POWER	0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	296,592
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	0.65%
12.	TYPE OF REPORTING PERSON
	IA

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1.	NAME OF REPORTING PERSONS
	Teachers Advisors, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) o
		(b) o
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

5.	SOLE VOTING POWER	694,567
6.	SHARED VOTING POWER	0
7.	SOLE DISPOSITIVE POWER	694,567
8.	SHARED DISPOSITIVE POWER	0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	694,567
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	1.52%
12.	TYPE OF REPORTING PERSON
	IA

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1.	NAME OF REPORTING PERSONS
	Teachers Insurance and Annuity Association of America 13-1624203
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) o
		(b) o
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	New York

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

5.	SOLE VOTING POWER	13,220
6.	SHARED VOTING POWER	0
7.	SOLE DISPOSITIVE POWER	13,220
8.	SHARED DISPOSITIVE POWER	0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	13,220
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
	0.03%
12.	TYPE OF REPORTING PERSON
	IC

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Item 1(a).	NAME OF ISSUER:
	Preferred Apartment Communities, Inc.
Item 1(b).	ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
	3284 Northside Parkway NW
	Suite 150
	Atlanta, GA 30327
	United States
Items 2(a)-2(c).	NAME, ADDRESS OF PRINCIPAL BUSINESS OFFICE, AND CITIZENSHIP OF PERSONS FILING:
	Nuveen Asset Management, LLC (“NAM”)
	333 W. Wacker Drive
	Chicago, IL  60606
	Citizenship:  Delaware
	TIAA-CREF Investment Management, LLC (“TCIM”)
	730 Third Avenue
	New York, NY  10017-3206
	Citizenship:  Delaware
	Teachers Advisors, LLC (“TAL”)
	730 Third Avenue
	New York, NY  10017-3206
	Citizenship:  Delaware
	Teachers Insurance & Annuity Association of America (“TIAA”)
	730 Third Avenue
	New York, NY  10017-3206
	Citizenship:  New York
Item 2(d).	TITLE OF CLASS OF SECURITIES:
	Common Stock
Item 2(e).	CUSIP NUMBER:  74039L103
Item 3.	IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:

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NAM
(a)	o	Broker or dealer registered under Section 15 of the Exchange Act.
(b)	o	Bank as defined in Section 3(a)(6) of the Exchange Act.
(c)	o	Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d)	o	Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e)	x	An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f)	o	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g)	o	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h)	o	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i)	o	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j)	o	Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
TCIM
(a)	o	Broker or dealer registered under Section 15 of the Exchange Act.
(b)	o	Bank as defined in Section 3(a)(6) of the Exchange Act.
(c)	o	Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d)	o	Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e)	x	An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f)	o	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g)	o	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h)	o	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i)	o	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j)	o	Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

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TAL
(a)	o	Broker or dealer registered under Section 15 of the Exchange Act.
(b)	o	Bank as defined in Section 3(a)(6) of the Exchange Act.
(c)	o	Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d)	o	Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e)	x	An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f)	o	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g)	o	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h)	o	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i)	o	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j)	o	Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
TIAA
(a)	o	Broker or dealer registered under Section 15 of the Exchange Act.
(b)	o	Bank as defined in Section 3(a)(6) of the Exchange Act.
(c)	x	Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d)	o	Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e)	o	An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f)	o	An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g)	o	A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h)	o	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i)	o	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j)	o	Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

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Item 4.	OWNERSHIP
	(a)  Aggregate amount beneficially owned:	2,627,132 (See Exhibit A attached)
	(b)  Percent of class:	5.73%
	(c)  Number of shares as to which person has:

	NAM	TCIM	TAL	TIAA
Sole Voting Power:	1,622,753	296,592	694,567	13,220
Shared Voting Power:	0	0	0	0
Sole Dispositive Power:	1,622,753	296,592	694,567	13,220
Shared Dispositive Power:	0	0	0	0

Item 5.	OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
Item 6.	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
	See Exhibit A attached
Item 7.	IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
	Not Applicable
Item 8.	IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
	Not Applicable
Item 9.	NOTICE OF DISSOLUTION OF GROUP.
	Not Applicable

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Item 10.	CERTIFICATIONS.
	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with nomination under §240.14a-11
	SIGNATURE.
	After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
	Date: February 14, 2020

NUVEEN ASSET MANAGEMENT, LLC
By:	/s/ Diane S. Meggs
Diane S. Meggs
Chief Compliance Officer
TIAA-CREF INVESTMENT MANAGEMENT, LLC
By:	/s/ Stuart R. Brunet
Stuart Brunet, Managing Director,
Chief Compliance Officer
TEACHERS ADVISORS, LLC
By:	/s/ Stuart R. Brunet
Stuart Brunet, Managing Director,
Chief Compliance Officer
TEACHERS INSURANCE & ANNUITY ASSOCATION OF AMERICA
By:	/s/ Richard Biegen
Richard Biegen, Senior Managing Director

CUSIP No. 74039L103 13G Page 11 of 11

EXHIBIT A

ITEM 6. OWNERSHIP.

TIAA-CREF Investment Management, LLC (“TCIM”) is the investment adviser to the College Retirement Equities Fund (“CREF”), a registered investment company, and may be deemed to be a beneficial owner of 296,592 shares of Issuer’s common stock owned by CREF. Teachers Advisors, LLC (“TAL”) is the investment adviser to three registered investment companies, TIAA-CREF Funds (“Funds”), TIAA-CREF Life Funds (“Life Funds”), and TIAA Separate Account VA-1 (“VA-1”), as well as one or more separately managed accounts of Advisors (collectively, the “Separate Accounts”), and may be deemed to be a beneficial owner of 694,567 shares of Issuer’s common stock owned separately by Funds, Life Funds, VA-1, and/or the Separate Accounts. Nuveen Asset Management, LLC (“NAM”), is a registered investment adviser affiliated with TCIM, TAL, and TIAA. NAM may be deemed to be a beneficial owner of 1,622,753 shares of Issuer’s common stock. These shares were acquired in the ordinary course of business, and not with the purpose or effect of changing or influencing control of the Issuer.