Steadfast Apartment REIT

Steadfast Apartment REIT, Inc. is a publicly registered non-traded real estate investment trust headquartered in Irvine, California, that invested in multifamily apartment communities across the United States. Advised by Steadfast Apartment Advisor, LLC, the REIT pursued a strategy of acquiring established, well-positioned, institutional-quality apartment communities with existing high occupancy rates and consistent rental revenue — providing investors with potential income generation and long-term capital appreciation through multifamily real estate ownership. The company focused particularly on Class B value-add apartment properties in Sunbelt and Midwest markets with favorable demographic trends, employment growth, and limited new competitive supply.

Over the course of its investment program, Steadfast Apartment REIT assembled a $3.4 billion portfolio of approximately 70 apartment communities across 14 states, with properties concentrated in markets that demonstrated high occupancy and income levels across multiple market cycles. In 2020, Steadfast Apartment REIT completed mergers with its affiliated non-traded REIT vehicles — Steadfast Income REIT, Inc. and Steadfast Apartment REIT III, Inc. — creating a combined platform with approximately $3.3 billion in assets under management. This consolidation brought the combined Steadfast non-traded REIT platform to significant scale, enhancing portfolio diversification across markets and property types within the Class B multifamily segment.

In 2022, Steadfast Apartment REIT completed a strategic merger with Independence Realty Trust, Inc. (NYSE: IRT), a publicly traded multifamily REIT, creating a combined company with a portfolio of more than 130 apartment communities and approximately 38,000 units across 16 states. The transaction provided Steadfast Apartment REIT investors with a liquidity event and an exchange of their non-traded REIT shares into shares of publicly listed Independence Realty Trust common stock. The combined IRT-Steadfast platform is concentrated in Sunbelt and Midwest markets, building on the geographic and strategic overlap between the two companies' portfolios and extending the legacy of Steadfast's Class B multifamily investment strategy under a publicly listed umbrella.