STEADFAST INCOME REIT BUYS SECOND PHASE OF SYCAMORE TERRACE

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TERRE HAUTE, IND. — Steadfast Income REIT Inc. has acquired the second phase of Sycamore Terrace Apartments, a multifamily community in Terre Haute, for $6.7 million. The newly constructed phase adds 72 apartment homes, bringing the total project to 250 residences. The first phase of Sycamore Terrace was built in 2011, and the second phase was developed in 2013. The property includes 21 two-story residential buildings with floor plans averaging more than 1,200 square feet. Sycamore Terrace’s mix of one-, two- and three-bedroom apartments currently feature monthly rents of $1,043.

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