Steadfast Income REIT Expands Further into Apartments
About Steadfast Reit
Part of the Steadfast family of companies, Steadfast Income REIT, Inc., focuses on real estate investment trusts (REITs). This division of the firm understands the importance of real estate in a financial portfolio as a way to diversify, to produce income over a long period of time, and to own a tangible asset, be it a building or a plot of land. Focusing on apartment complexes across 22 states as well as in Mexico, the company, led by chief executive officer Rod Emery, has developed an extensive strategy that considers economic trends and local demographics. Through Steadfast Income REIT, individuals can enhance their economic status by funding stable apartment communities in areas of growth.
From company headquarters in Irvine, California, Rod Emery and the team at Steadfast Income REIT discover high-occupancy properties that attract middle-class Americans. The majority of the portfolio consists of apartment communities with between 96 and 100 percent occupancy, which ensures that clients receive a regular return on their investment. This type of asset can also serve as an “inflation hedge” even in down economic times because short-term lease apartments allow for possible regular rent adjustments.
The success of these programs has led the firm to file a registration statement for an initial public offering for its Apartment REIT subsidiary. In September of 2013, the company announced this endeavor along with a request for $935 million in common stock. By going public, Steadfast Apartment REIT will expand its brand through acquisitions, renovations, and repositioning.