Hines Global Income Trust Updates NAV Per Share
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share for its common stock, as of November 30, 2020.
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share of $9.82 for its Class T, Class S, Class D, and Class I shares of common stock, as of November 30, 2020.
In October, shares were valued at $9.73 and were originally priced at $10.00 each.
The REIT’s real estate investments totaled roughly $1.65 billion in November, compared to approximately $1.62 billion for October. Other assets increased from nearly $141 million in October to $160.2 million in November, while debt and other liabilities increased from ($784.4 million) to ($799.6 million), month-over-month.
The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities divided by the number of outstanding shares, all as of November 30, 2020. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
Earlier this week, The DI Wire reported that the REIT purchased 6000 Schertz Parkway, an Amazon-leased e-commerce fulfillment center located in Schertz, Texas. The purchase price was $129.2 million, excluding transaction and closing costs.
Hines Global Income Trust recently registered a $2 billion follow-on offering with the Securities and Exchange Commission. Once declared effective, this will be Hines Global Income Trust’s third public offering.
As of September 30, 2020, Hines Global Income Trust owned 20 real estate investments which total 9.5 million square feet of space. From inception in August 2014 through November 30, 2020, the REIT raised $1.1 billion in investor equity in its public offerings.
