Skip to content
AltsWire
Click Here to Subscribe to Our Free Daily News Updates

RealSource Properties Maintains Positive Outlook Despite 10% Year-Over-Year Dip in NAV

By Mari Nicholson

RealSource Properties Maintains Positive Outlook Despite 10% Year-Over-Year Dip in NAV

RealSource Properties Inc., a multifamily real estate investment trust that seeks to raise $50 million, announced its latest net asset value of $11.54 per share. Approved by the REIT’s board of directors, this NAV was based on operating results as of Jan. 31, 2025, effective Feb. 1, and determined by Altus Group – a third-party valuation firm.

This was an approximate 8.78% decrease from the previous fourth quarter 2024 NAV of $12.6501, as previously reported by AltsWire, and a roughly 10% year-over-year decline from the $12.83 NAV as of Feb. 1, 2024.

The REIT, which launched in May 2021, consists of 11 properties across six states and represents approximately $541 million in real estate assets.

Additionally, the new monthly distribution rate, effective April 1, will be $0.0483 per share. The REIT has paid monthly distributions uninterrupted since inception, and was $0.0541, or $0.65 annualized, during the previous several reporting periods. The change represents a decrease of approximately 10.7%.

According to the company, the revised valuations include current property valuations, market cap rates, and increased reserves for capital expenditures going forward. The REIT said its land development property in Colorado Springs, Colo., required a modest downward adjustment in value due to the increased supply of new multifamily units delivered in late 2024.

The REIT launched with a $10.00 NAV and has paid monthly distributions since inception, providing a cumulative income stream (uninterrupted and fully covered by funds from operations. The offering has provided an approximate total return of 49.53% since inception, or approximately a 12.93% average annual return in its 46 months of operation (income and capital appreciation).

“Our outlook remains highly positive for the multifamily real estate market through 2025 and beyond, and today’s share value could present a significant investment opportunity,” said Joe Hart, director of capital markets.

RealSource Properties Inc.’s mission is to enhance investor returns through strategic acquisitions, efficient management, and targeted value-add investments.

Click here to visit the AltsWire directory page.