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Cottonwood Communities NAV Declines 3% in February

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 as of Feb. 28, 2023.

At the close of February 2023, the NAV per share was approximately $18.64, compared to $19.22 the previous month, a decline of approximately 3%. Shares were originally priced at $10.00 each plus applicable selling commissions and fees. Total NAV decreased from approximately $1.289 billion as of Jan. 31, 2023, to approximately $1.250 billion as of Feb. 28, 2023.

The REIT had 67,054,318 shares outstanding at the end of January, approximately 23,125 more than at the close of February 2023.

Cottonwood Communities, as of Sept. 30, 2022, held interests in 33 multifamily apartment communities with a total of 9,620 units, including 1,073 units in three multifamily apartment communities in which they have a structured investment interest and another 738 units in three multifamily apartment communities under construction or recently completed and in lease-up. In addition, they have an ownership interest in four land sites planned for development.

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