STEADFAST INCOME REIT BUYS TWO MULTIFAMILY COMMUNITIES FOR $61M

OKLAHOMA CITY AND AUSTIN, TEXAS — Steadfast Income REIT has acquired two apartment communities in separate transactions totaling $61 million. The communities include Deep Deuce at Bricktown in Oklahoma City and Vantage at Buda Ranch in Austin. Deep Deuce at Bricktown is a 294-unit property built in 2001. The community is 99 percent occupied and is located in downtown Oklahoma City's Bricktown neighborhood. The apartment community sold for approximately $38.22 million. Vantage at Buda Ranch is a 264-unit apartment community that Vantage Communities built in 2009. The property is 96 percent occupied and sold for approximately $23 million. Vantage at Buda Ranch is Steadfast's fourth apartment community in Austin.