Steadfast Apartment REIT III Sets New Date for Offering Close

The board of Steadfast Apartment REIT III Inc., a publicly registered non-traded real estate investment trust, has decided to terminate the company’s initial public offering on August 31, 2018.

The board of Steadfast Apartment REIT III Inc., a publicly registered non-traded real estate investment trust, has decided to terminate the company’s initial public offering on August 31, 2018.

The offering was originally projected to close around February 5, 2019, but the board determined that it was in the company’s and stockholder’s best interest to close the offering later this summer.

In other news, the REIT recently released its first quarter 2018 financial results and posted increases across multiple metrics.

Steadfast Apartment REIT III was formed to acquire and operate a portfolio of institutional-quality multifamily and senior-living apartment communities in targeted markets throughout the United States that have demonstrated high occupancy and income levels across market cycles.

The REIT’s primary offering was declared effective by the SEC in February 2016 and raised $184.4 million in investor equity since inception. The company’s portfolio is comprised of 9 properties purchased for a combined $369.1 million.

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