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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 March 31, 2022.

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 March 31, 2022.

As of March 31, 2022, the NAV per share was approximately $19.63, compared to $18.99 the previous month. Shares were originally priced at $10.00 each plus applicable selling commissions and fees.

Investments in operating multifamily properties increased from $1.93 billion in February to $1.97 billion in March. Investments in multifamily development properties increased $216 million to $220.5 million, month-over-month, while investments in real estate-related structured investments increased slightly from $63.1 million to $63.8 million. Other assets increased from $47.5 million to $76 million, and cash and cash equivalents increased from $42.2 million in February to $75.5 million in March.

Secured real estate financing increased from ($914.2 million) in February to ($965.1 million) in March, and subordinated notes remained flat at ($43.4 million). Preferred equity remained flat at around ($267.1 million) month-over-month. The REIT had 56.7 million shares outstanding in March, compared to 56 million shares the previous month.

Cottonwood Communities has raised gross proceeds of approximately $127 million from the sale of Series 2019 Preferred Stock in its private offering and approximately $139.8 million from the sale of common stock in its initial offering, as of February 2022.

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