Steadfast Apartment REIT Announces NAV of $14.85 Per Share
April 5, 2017 | by James Sprow | Blue Vault
Steadfast Apartment REIT engaged CBRE to perform appraisals of the Company’s real estate properties and, through an affiliate, to provide a range of the estimated value per share of the Company’s common stock. The estimated value per share is based on the estimated value of the REIT’s assets less the estimated value of the REIT’s liabilities by the number of shares outstanding, all as of December 31, 2016. The estimated value per share approximates the mid-range value of the estimated value per share range as indicated in CBRE’s valuation report.
The estimated value per share as of December 31, 2016 is $14.85, up from $14.46 as of December 31, 2015. The original offering price was $15.00 per share and the proceeds to the REIT before expenses, assuming full commissions and fees were paid, was $13.22. The REIT ended its offering on March 24, 2016.
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