IRVINE, CA—Steadfast Income REIT, Inc. willengage Goldman, Sachs & Co. as a financialadvisor to analyze and evaluate strategic alternatives to maximizestockholder value. As part of that effort, Steadfast also announcedthe suspension of the company's distribution reinvestment plan fordistributions that accrue after October 31, andthe suspension of the company's share repurchase plan effectiveNovember 20.
“The board is committed to maximizing the total potential returnto stockholders,” said Rodney Emery, CEO ofSteadfast Income REIT. “We believe that with current marketconditions, coupled with the size and composition of our apartmentportfolio, the company may be advantageously positioned to executeon a liquidity opportunity for our stockholders in the nearfuture.”
After launching its initial public offering in July2010, Steadfast Income concluded its sales of shares ofcommon stock in its primary offering on December 20. Today theSteadfast portfolio has grown to include 65 apartmentcommunities in 11 Midwestern and Southern states purchasedfor approximately $1.6 billion.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
