RealSource Properties REIT Reports $13.20 NAV Per Share, a 2.86% Increase
By
RealSource Properties Inc. REIT, a $573 million private multifamily real estate investment trust, calculated its net asset value stands at $13.2003 per share, as of Sept. 30, 2024. This reflects a 2.86% increase from its previous November 2023 $12.833 per share NAV.
The NAV per share was based on the estimated value of the REIT’s assets, less the estimated value of its liabilities divided by the number of fully diluted shares outstanding. Altus Group, an independent appraisal management service provider, assisted in the fund’s valuation process for the first time.
“We are excited to partner with one of the world’s foremost authorities on commercial real estate property valuations,” said Nate Hanks, chief executive officer of RealSource Properties. “This independent third-party assessment by Altus Group provides our investors with greater confidence in the performance of their investments.”
Currently open to new investors, the REIT aims to enhance investor returns through strategic acquisitions, efficient management, and targeted value-add investments in commercial real estate across growing non-primary markets. The fund currently holds over 3,600 units across 12 properties in six states.
RealSource Properties Inc. formed RealSource Properties REIT in May 2021. It launched as a $390-million, 10-multifamily property REIT in March 2022. The REIT was the Salt Lake City-based firm’s first investment offering to accredited investors.
RealSource Properties Inc. is a commercial real estate investment manager launched in 2002.