RealSource REIT Raises Its NAV by 16.3%, Lists Two Texas Properties
The RealSource Properties Inc. REIT has raised its net asset value (‘NAV’) to $13.96 from $12.00. The updated valuation represents an increase of $1.96 or 16.3% from its prior valuation. The REIT, launched in March 2022, is currently valued at $430 million with a fund target of $500 million. The property invests in multifamily properties, two in Texas. The Steepleway Downs in Houston and the Summerwood Cove in Dallas are part of the portfolio mix. RealSource implements a value-add strategy, focusing on geographically diverse Class B/B+ properties that offer potential upside value. Their properties are in secondary MSAs demonstrating solid fundamentals and growth.
The RealSource Properties REIT currently contains eleven properties (3,125 units under management), across the United States. Last month, RealSource announced a distribution increase to $0.650 from $0.625 per share, providing investors with a continuous stable stream of income.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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