Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust focused on multifamily real estate investments, has reported the monthly net asset value per share/unit of its common stock and operating partnership units, as of July 31, 2021.
As of July 31, 2021, the NAV per share for the outstanding Class A and Class TX shares was approximately $12.54, compared to $11.79 the previous month. Shares were originally priced at $10.00 each plus applicable selling commissions and fees.
Investments in multifamily operating properties increased from nearly $1.24 billion in June to $1.57 billion in July. Investments in multifamily development properties increased from $144.4 million to $150.5 million, month-over-month, while investments in real estate-related structured investments increased from $48.3 million to $49.9 million. Other assets decreased from $54 million to roughly $43 million, and cash and cash equivalents increased from $8.8 million in June to $10.2 million in July.
Secured real estate financing increased from ($712.2 million) in June to ($863 million) in July, and subordinated notes remained unchanged at ($48.6 million). Preferred equity increased from ($207.2 million) to ($211.6 million) month-over-month.
The REIT’s net asset value jumped from $518.5 million in June to $688.4 million in July, and the number of shares/units outstanding increased from nearly 44 million to 54.9 million, month-over-month.
In other company news, last month, Cottonwood Communities closed its mergers with Cottonwood Multifamily REIT I Inc. and Cottonwood Multifamily REIT II Inc., both Regulation A+ REITs.