Cottonwood Residential Increases NAV 12.6%
September 21, 2017 | Luke Schmidt | Blue Vault
Cottonwood Residential, Inc. announced, effective September 1, 2017, the Net Asset Value of the shares of Non-Voting Common Stock increased from $16.90 to $19.03, as determined in the sole discretion of the Board of Directors of Cottonwood Residential. The current distribution rate remains unchanged at an annualized rate of $0.89 per common share.
The increase in NAV was directly related to increases in the Company’s total asset value and common equity. As determined in the sole discretion of the Board of Directors, the Company’s total asset value increased from approximately $1.58 billion to approximately $1.64 billion, while the total value of the Company’s common equity increased from $602 million to $703 million.
Cottonwood Residential is a fully integrated real estate investment company focused solely on the multifamily sector.
