Home Alts News $750 Million Cottonwood REIT Breaks Escrow

$750 Million Cottonwood REIT Breaks Escrow

Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust sponsored by Cottonwood Residential, has reached the minimum offering of $2 million and broken escrow.

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Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust sponsored by Cottonwood Residential, has reached the minimum offering of $2 million and broken escrow. The REIT can now issue shares of common stock and use the funds to make real estate investments.

Cottonwood Communities launched its $750 million offering in August 2018 to invest primarily in multifamily properties in major markets throughout the U.S. Shares are priced at $10.00 each, and all offering-related expenses will be paid by the REIT’s advisor, Cottonwood Communities Management LLC, without reimbursement.

As of December 18, 2018, Cottonwood Communities had raised approximately $2.7 million in investor equity, which satisfied the minimum offering amount in all states where they are conducting their offering except Kansas, Ohio, Pennsylvania, and Washington, which have minimum offering amounts of $10 million, $33.75 million, $33.75 million, and $20 million, respectively.

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