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Cottonwood Communities Declares Net Asset Value Per Share

Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust focused on multifamily real estate investments, has reported its monthly net asset value per share/unit of its common stock and operating partnership units, as of July 31, 2022.

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Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust focused on multifamily real estate investments, has reported its monthly net asset value per share/unit of its common stock and operating partnership units, as of July 31, 2022.

As of July 31, 2022, the NAV per share was approximately $20.70, compared to $20.72 the previous month. Shares were originally priced at $10.00 each plus applicable selling commissions and fees.

Investments in operating multifamily properties hovered around $2.06 billion, while investments in multifamily development properties decreased from $237.9 million in June to $239.4 million in July.

Investments in real estate-related structured investments increased slightly from $66 million in June to $66.8 million in July, while other assets increased from $118.5 million to $124.7 million. Cash and cash equivalents increased from $14.6 million in June to $15.6 million in July.

Secured real estate financing decreased from ($1.07 billion) in June to ($1.06 billion) in July. Subordinated notes remained flat at ($43.4 million), and preferred equity hovered around ($127 million). The REIT had 60 million shares outstanding in July, compared to 59.2 million the previous month.

Cottonwood Communities has raised gross proceeds of approximately $127.3 million from the sale of Series 2019 Preferred Stock in its private offering and approximately $226.5 million from the sale of common stock in its two public offerings, as of July 2022.

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