Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - Steadfast Apartment REIT, Inc. | ex991pressreleaset-boneand.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
December 14, 2015
Steadfast Apartment REIT, Inc.
(Exact Name of Registrant as Specified in Charter)
Maryland | 000-55428 | 36-4769184 | ||
(State or Other Jurisdiction | (Commission File Number) | (IRS Employer | ||
of Incorporation) | Identification No.) | |||
18100 Von Karman Avenue, Suite 500
Irvine, California 92612
(Address of Principal Executive Offices, including Zip Code)
Registrant’s telephone number, including area code: (949) 852-0700
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||
Item 7.01 | Regulation FD Disclosure. |
Acquisition of PeakView at T-Bone Ranch
On December 11, 2015 (the “Closing Date”), Steadfast Apartment REIT, Inc. (the “Company”), through STAR T-Bone, LLC (“STAR T-Bone”), an indirect, wholly-owned subsidiary of the Company, acquired from a third-party seller a fee simple interest in a 224-unit multifamily residential community located in Greeley, Colorado, commonly known as PeakView at T-Bone Ranch (the “T-Bone Property”). STAR T-Bone acquired the T-Bone Property for an aggregate purchase price of $40,300,000, excluding closing costs. STAR T-Bone financed the payment of the purchase price for the T-Bone Property with a combination of: (1) proceeds from the Company’s ongoing initial public offering and (2) a loan in the aggregate principal amount of $28,210,000 from Berkeley Point Capital LLC, pursuant to the requirements of the Fannie Mae Delegated Underwriting and Servicing Program.
Acquisition of Park Valley Apartments
On the Closing Date, the Company, through STAR Park Valley, LLC (“STAR Park”), an indirect, wholly-owned subsidiary of the Company, acquired from a third-party seller a fee simple interest in a 496-unit multifamily residential community located in Smyrna, Georgia, commonly known as Park Valley Apartments (the “Park Property”). STAR Park acquired the Park Property for an aggregate purchase price of $51,400,000, excluding closing costs. STAR Park financed the payment of the purchase price for the Park Property with a combination of: (1) proceeds from the Company’s ongoing initial public offering and (2) an advance in the aggregate principal amount of $38,550,000 from PNC Bank, National Association, pursuant to the Company’s revolving credit facility.
On December 14, 2015, the Company distributed a press release announcing the completion of the acquisitions of the T-Bone Property and the Park Property. The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
The information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Description
99.1 | Press release, dated December 14, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
STEADFAST APARTMENT REIT, INC. | |||
Date: | December 14, 2015 | By: | /s/ Ella S. Neyland |
Ella S. Neyland | |||
President | |||
EXHIBIT INDEX
Exhibits Description
99.1 | Press release, dated December 14, 2015 |