Home News Steadfast Apartment REIT Increases Net Asset Value

Steadfast Apartment REIT Increases Net Asset Value

The board of Steadfast Apartment REIT Inc., a publicly registered non-traded real estate investment trust, has approved an estimated value per share of the company’s common stock of $15.18 as of December 31, 2017.

The board of Steadfast Apartment REIT Inc., a publicly registered non-traded real estate investment trust, has approved an estimated value per share of the company’s common stock of $15.18 as of December 31, 2017.

The updated NAV per share reflects a 2.2 percent increase from the previous $14.85 estimated value per share, as of December 31, 2016, that the board of directors approved in February 2017.

“For a third year our estimated value per share reflects a notable increase,” said Ella Neyland, president of Steadfast Apartment REIT. “We believe that this continues to validate that our hands-on approach to property management, including making small aesthetic improvements to individual properties, can have an ongoing impact on the portfolio’s overall value.”

The estimated NAV is based on the estimated value of the company’s assets minus the estimated value of its liabilities divided by the approximate number of shares outstanding on a fully diluted basis, calculated as of December 31, 2017. The valuations were performed in accordance with guidelines issued by the Investment Program Association.

The board engaged registered broker-dealer CBRE Capital Advisors Inc. to calculate a range for the estimated value per share based on appraisals performed by affiliated independent third-party appraisal firm CBRE Inc.

Steadfast Apartment REIT, which invests in multifamily properties in targeted markets throughout the United States, has invested more than $1.5 billion in 34 apartment communities in 11 states. The company closed its public offering in March 2016 after raising $712 million in investor equity.

For more Steadfast related news, visit their directory page here.

Print Friendly, PDF & Email