NEW YORK, Oct. 26, 2023 — ARCTRUST III (“A3” or the “REIT”), a real estate investment trust, is announcing a continuation of its increased capital raise of up to $50 million of Class A common stock, resulting in a total offering size of $180 million. The stock will be sold at $10.83 per share and is open to accredited investors only.
From 2018 through 2022, A3 issued and sold shares of its Class A common stock initially at $10.00 per share, until it closed its original offering in April 2022 after issuing more than 12 million shares and generating gross proceeds of approximately $125.5 million. Since the REIT’s commencement, the valuation has steadily grown from $10.00 per share in September 2018 to its current valuation of $10.83 per share. Additionally, A3 has paid an uninterrupted annualized cash dividend of $0.55 per share.
Earlier this year, A3 was assigned an Investment Grade Credit Rating of BBB from Egan-Jones Rating Company, an SEC designated Nationally Recognized Statistical Rating Organization (NRSRO), recognized by the National Association of Insurance Commissioners (NAIC) and the European Securities and Markets Authority (ESMA). Egan-Jones arrived at its ranking by evaluating the quality of A3’s credit profile, along with its tenants, lease terms, property locations, management track record, product type and transparency of the portfolio.
“With recent credit tightening due to higher interest rates and other factors, real estate investments need alternative sources of capital. This provides a unique opportunity for an experienced sponsor like ARCTRUST III,” said James Steuterman, CEO, ARCTRUST III. “We are very pleased to provide investors this continuation of our A3 offering, and we look forward to continuing to capitalize on market opportunities and provide shareholders an investment focused on growth and income.”
ARCTRUST III goes beyond simply aggregating properties, but instead aims to create value by focusing primarily on joint venture developments. Property types include retail, residential, industrial, medical and self-storage. ARCTRUST III operates throughout the United States with a focus primarily on the New York to Florida corridor, as well as major metropolitan areas with international airports.
About ARCTRUST Private Capital
ARCTRUST Private Capital is an affiliate of the ARCTRUST Group of Companies, a vertically integrated real estate organization that over the past 38 years has been responsible for more than 500 transactions with an aggregate value in excess of $5 billion.
ARCTRUST Private Capital focuses on delivering a diverse platform of investment solutions including real estate investment trusts, Regulation D offerings, Delaware Statutory Trusts and preferred equity and debt products, while also providing investor access to private sidecar and property-specific investments in joint ventures and co-sponsored offerings.
Contact:
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SOURCE ARCTRUST Private Capital
