Steadfast Income REIT Inc. disclosed that it received an unsolicited tender offer for up to 100,000 shares of the multifamily real estate investment trust's common stock.
The buyer, Liquidity Partners Trust I, is offering to acquire the shares at $5.73 apiece in cash.
Steadfast Income said it remains neutral and is not making any recommendation as to whether shareholders should accept or decline the offer. However, the REIT said the offer price is lower by $4.11 than the most recent estimated net asset value per share of its common stock.
The tender offer will expire Jan. 25, unless extended.