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 Aug. 31, 2023.
At the close of August 2023, the NAV per share was approximately $16.62, compared to $17.12 in July, a decline of approximately 2.9%. Shares were originally priced at $10.00 each plus applicable selling commissions and fees. Total NAV decreased from approximately $1.333 billion as of July 31, 2023, to $1.094 billion as of Aug. 31, 2023.
The REIT had 65,837,017 shares outstanding at the end of August, approximately 348,987 less than at the close of July 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.