IRVINE, CA—Steadfast Apartment REIT, Inc. has determined to discontinue its ongoing initial public offering by March 24, 2016.
As of September 29, 2015 Steadfast Apartment REIT (STAR) had received approximately $403 million in gross offering proceeds and invested approximately $932 million in 24 apartment communities containing 7,891 units in 11 states.
“We are exceedingly pleased with how our portfolio is performing and that, by March 31, 2016, we will be providing shareholders with an estimated value per share of our common stock in our 2015 annual report that will be based on the valuations of the company's assets and liabilities as of December 31, 2015.” said Ella Neyland, president of STAR.
About Steadfast Apartment REIT
Steadfast Apartment REIT intends to acquire and operate a diverse portfolio of well-positioned, institutional-quality apartment communities in targeted markets throughout the United States that have demonstrated high occupancy and income levels across market cycles.
Steadfast Apartment REIT is sponsored by Steadfast REIT Investments LLC, an affiliate of Steadfast Companies, an Orange County-based group of affiliated real estate investment and operating companies that acquire, develop and manage real estate in the US and Mexico.
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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.
