Skip to content
The DI Wire
Click Here to Subscribe to Our Free Daily News Updates

Ares REIT Updates Monthly Net Asset Value Per Share

Ares Real Estate Income Trust Inc., a publicly registered NAV-based perpetual life real estate investment trust formerly known as Black Creek Diversified Property Fund, has updated its net asset value per share, as of January 31, 2022.

Ares Real Estate Income Trust Inc., a publicly registered NAV-based perpetual life real estate investment trust formerly known as Black Creek Diversified Property Fund, has updated its net asset value per share for its Class T, Class S, Class D, Class I, and Class E shares of common stock, as of January 31, 2022.

As of January 31, 2022, all share classes were valued at $8.25, compared to nearly $8.18 the previous 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. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.

Total investments in real estate properties increased from $3.53 billion in December to $3.68 billion in January. Debt related investments hovered around $106.5 million, while DST program loans increased slightly from $62.1 million to $64.3 million month-over-month.

Cash and cash equivalents increased from $10.9 million in December to $18.3 million in January. Restricted cash decreased slightly from 3.9 million to $3.3 million, and other assets increased from $54.1 million to $55.9 million.

Line of credit, term loans and mortgage notes increased from ($1.42 billion) in December to ($1.47 billion) in January. Financing obligations associated with its DST program increased from ($682.8 million) to ($738 million) month-over-month, and other liabilities decreased from ($54.3 million) to ($50.3 million).

There were 203.7 million shares outstanding at the end of January, compared to 198 million the previous month.

As of January 31, 2022, the REIT owned a portfolio of 69 real estate properties totaling approximately 13.9 million square feet that were 94.2 percent leased.

The REIT launched in January 2006 and has raised $2.9 billion in multiple offerings. In its current offering, it has raised approximately $700.3 million from the sale of approximately 91.1 million shares, including proceeds from the distribution reinvestment plan of approximately $47.4 million, as of February 1, 2022.

For more Ares/Black Creek news, please visit their directory page.