Cottonwood Multifamily REIT I, Inc. Increases NAV
September 29, 2017 | Luke Schmidt | Blue Vault
Effective September 1, 2017, the net asset value of shares of Cottonwood Multifamily REIT I, Inc. increased from $10.00 to $10.85, as established by the Board of Directors of the Company. The current distribution rate remains unchanged at $0.575 per share on an annualized basis through June 30, 2017.
The NAV of the Company was determined primarily by third-party independent appraisals and considered metrics such as cash flows, comparable sales metrics, capitalization rates, loan balances, interest rates, and financial projections.
As of June 30, 2017, the Company reported $45.2 million in total assets with 90% membership interests in three multifamily apartment communities. The Company’s intent is to have stabilized, Class A multifamily apartment communities provide a stable source of income for their shareholders and to maximize potential returns upon disposition through capital appreciation.
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