Steadfast Apartment REIT III Acquires First Asset for $7.6 Million

May 25, 2016

May 24 2016 | Article by: The DI Wire

Steadfast Apartment REIT III Inc., a publicly registered non-traded real estate investment trust, purchased its first community, Carriage House Apartments, a 136-unit complex in the Chicago suburb of Gurnee, Illinois for $7.6 million.

In connection with the property acquisition, an annual cash distribution of 6 percent for class A shares and 5.2 percent for class T shares will begin being paid.

“We are very pleased to kick off Steadfast Apartment REIT III with the purchase of Carriage House. The community is approximately 98 percent occupied and well-positioned within the market,” said Ella Shaw Neyland, president of Steadfast Apartment REIT III. “We intend to target quality, mid-tier assets and seek opportunities to convert good properties into better ones by introducing our extensive institutional resources.”

Article Located Here

Go Back
Carron Schmick
August 14, 2023

"Blue Vault has been an exceptional resource for our firm when it comes to non-traded alternative assets. The BV 'vault' is a wealth of historical data and BV subscriptions and conferences have introduced us to new investment opportunities and sponsors. They also help to keep me current on industry and economic trends. I am grateful for the role Blue Vault has played in growing this aspect of our business."