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Steadfast Apartment REIT Sells Terrace Cove Apartment Homes in Austin, Texas

February 19, 2020

Steadfast Apartment REIT Sells Terrace Cove Apartment Homes in Austin, Texas

February 18, 2020

On February 5, 2020, the Steadfast Apartment REIT sold Terrace Cove Apartment Homes, a 304-unit multifamily property located in Austin, Texas, for $33,875,000. The purchaser of Terrace Cove Apartment Homes was not affiliated with the Company or the Advisor. The Company previously acquired Terrace Cove Apartment Homes on August 28, 2014, for a contract purchase price of $23,500,000, exclusive of closing costs. The proceeds from the sale of Terrace Cove Apartment Homes were deposited with an accommodator and used to purchase the Patina Flats Property in a 1031 Exchange.

On February 11, 2020, the Company, through STAR Patina Flats, LLC, an indirect, wholly-owned subsidiary of the Company, acquired from a third-party seller a fee simple interest in a 155-unit multifamily and seven retail-space community located in Loveland, Colorado, commonly known as Patina Flats at the Foundry.

Source:  SEC

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Matthew C. Strife
Blue Vault Services
April 11, 2016
    

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