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Cottonwood Communities NAV Per Share Drops Nearly 5% in September

Cottonwood Communities NAV Per Share Drops Nearly 5% in September. Alternative investments, Cottonwood, Cottonwood Communities, investment, multifamily, NAV, net asset value, real estate investment trust, REIT, shares, valuation
Cottonwood Communities NAV Per Share Drops Nearly 5% in September. Alternative investments, Cottonwood, Cottonwood Communities, investment, multifamily, NAV, net asset value, real estate investment trust, REIT, shares, valuation

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 Sept. 30, 2023.

At the close of September 2023, the NAV per share was approximately $15.82, compared to $16.62 in August, a decline of approximately 4.8%. Shares were originally priced at $10.00 each plus applicable selling commissions and fees. Total NAV decreased from approximately $1.094 billion as of Aug. 31, 2023, to $1.035 billion as of Sept. 30, 2023.

The REIT had 65,422,888 shares outstanding at the end of September, approximately 414,129 less than at the close of August 2023.

Cottonwood Communities, as of June 30, 2023, had a portfolio of $2.6 billion in total assets, with 82.4% of its equity value in operating properties, 5.4% in development, 6.5% in land held for development and 5.7% in real estate-related structured investment. In addition, they have an ownership interest in four land sites planned for development.

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