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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.”

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!