Cottonwood Communities Reports Monthly NAV Per Share

Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust focused on multifamily real estate investments, has reported the monthly net asset value per share/unit of its common stock and operating partnership units, as of August 31, 2021.

Cottonwood Communities Inc., a publicly registered non-traded real estate investment trust focused on multifamily real estate investments, has reported the monthly net asset value per share/unit of its common stock and operating partnership units, as of August 31, 2021.

As of August 31, 2021, the NAV per share for the outstanding Class A and Class TX shares was approximately $12.89, compared to $12.54 the previous month. Shares were originally priced at $10.00 each plus applicable selling commissions and fees.

Investments in multifamily operating properties increased from $1.57 billion in July to just shy of $1.6 billion in August. Investments in multifamily development properties increased from $150.5 million to $155.5 million, month-over-month, while investments in real estate-related structured investments increased from $49.9 million to nearly $54.2 million. Other assets decreased from $43 million to $40 million, and cash and cash equivalents decreased from $10.2 million in July to $9.2 million in August.

Secured real estate financing increased from ($863 million) in July to ($865.9 million)in August, and subordinated notes remained unchanged at ($48.6 million). Preferred equity increased from ($211.6 million) to ($219.3 million) month-over-month. The REIT has roughly 54.9 million shares outstanding in both July and August.

Cottonwood Communities recently closed its mergers with Cottonwood Multifamily REIT I Inc. and Cottonwood Multifamily REIT II Inc., both Regulation A+ REITs.

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