Steadfast REIT Tops $1 Billion in Assets


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Meadows at River Run in Bolingbrook, IL, is the REIT’s second Chicago-area acquisition

CHICAGO—Job growth is a major driver for apartment demand, and with the Midwest humming with activity, investors like Steadfast Apartment REIT continue to snap up available properties. The Irvine, CA-based trust has just acquired Meadows at River Run, a 374-unit apartment community located in suburban Bolingbrook, for $58.5 million, its second Chicago-area purchase this year. 2014 and 2015 have been whirlwind years for the trust. With the acquisition of Meadows at River Run, it has acquired over $1 billion in properties.

“Over the past 18 months, we believe that Steadfast Apartment REIT has amassed a portfolio of quality apartment communities in prolific markets that embody the live-work-play environment that residents seek,” says Ella Shaw Neyland, president of Steadfast. “We are exceedingly pleased with how our portfolio looks today and offer our continued thanks to our shareholders who have shown their commitment to the Steadfast business plan.”…

Steadfast REIT Tops $1 Billion in Assets

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