STEADFAST BUYS 240-UNIT APARTMENT COMMUNITY FOR $20.1M

CANAL WINCHESTER, OHIO — Steadfast Income REIT Inc. has acquired the 240-unit BriceGrove Park in the Columbus suburb of Canal Winchester for $20.1 million. The property was built in 2002 and was 96 percent occupied at the time of sale. The property includes two-bedroom units averaging 1,033 square feet with monthly rents averaging approximately $838. Unit amenities include custom oak cabinetry in kitchens and baths, washer and dryer hookups, modern appliances, private patios and/or balconies and garages. Property amenities include a clubhouse with outdoor pool, playground area, picnic gazebo, a fitness center, golf putting green, bike/jogging trails and a three-acre lake with fountain. Steadfast also recently purchased Watermark at Hamburg Place, a 150-unit multifamily property in Lexington, Ky., for $16.3 million.