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 May 31, 2023.
At the close of May 2023, the NAV per share was approximately $17.76, compared to $18.12 in April, a decline of approximately 1.9%. Shares were originally priced at $10.00 each plus applicable selling commissions and fees. Total NAV decreased from approximately $1.221 billion as of April 30, 2023, to $1.191 billion as of May 31, 2023.
The REIT had 67,061,370 shares outstanding at the end of May, approximately 350,870 less than at the close of April 2023.
Cottonwood Communities, as of March 31, 2023, held interests in 34 multifamily apartment communities with a total of 9,820 units, including 1,293 units in four multifamily apartment communities in which they have a structured investment interest and another 504 units in two multifamily apartment communities under construction. In addition, they have an ownership interest in four land sites planned for development.