Steadfast Apartment REIT Inc. agreed to acquire Steadfast Income REIT Inc. and Steadfast Apartment REIT III Inc. in separate stock-for-stock, tax-free transactions to form an entity with gross real estate assets of approximately $3.3 billion.

The transactions are scheduled to close in the first quarter of 2020, pending approvals from the respective shareholders of Steadfast Income REIT and Steadfast Apartment REIT III. The three real estate investment trusts are sponsored by Steadfast REIT Investments LLC, an affiliate of Steadfast Cos.

More details to follow…