RealSource Properties, Inc., a $573 million private multifamily real estate investment trust (REIT), has announced the retention of Altus Group, the world’s leading independent appraisal management service provider, to assist in the Fund’s valuation process, effective September 30, 2024. This move reflects RealSource’s commitment to transparency and accuracy in asset valuation for its investors.
Previously, RealSource Properties, Inc. had calculated its NAV using an internal methodology closely aligned with Altus Group's. The newly calculated Net Asset Value stands at $13.2003/share (effective Sept. 30, 2024), reflecting a $0.3673 change from the prior NAV of $12.8330/share, declared in November 2023. The NAV per share is based on the estimated value of the Company's assets, less the estimated value of its liabilities divided by the number of fully diluted shares outstanding.
RealSource Properties has over 30 years of investment expertise in commercial real estate and specializes in value-added multifamily housing across growing non-primary markets. The fund currently holds twelve properties diversified across six states, totaling approximately 3,600 units.
“We are excited to partner with one of the world’s foremost authorities on commercial real estate property valuations,” said Nate Hanks, Chief Executive Officer. “This independent third-party assessment by Altus Group provides our investors with greater confidence in the performance of their investments.”
Altus Group offers access to over 400 accredited valuation professionals, cutting-edge technology, and data analytics services. The company provides valuation management for 24 of the 26 NCREIF ODCE funds and serves clients in more than 60 countries.
RealSource Properties, Inc.'s multifamily REIT is currently open to new investors.
About RealSource Properties, Inc.
RealSource Properties, Inc. is a private multifamily real estate investment trust (REIT) specializing in value-add multifamily properties across growing non-primary markets in the U.S. With a portfolio valued at $573 million, RealSource’s mission is to enhance investor returns through strategic acquisitions, efficient management, and targeted value-add investments. The fund currently holds over 3,600 units across twelve properties in six states. RealSource’s team leverages over 30 years of commercial real estate expertise to generate long-term value for its investors. For more information, visit realsourcepropertiesreit.com.
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