Black Creek Diversified Property Fund Inc., a publicly registered NAV-based perpetual life real estate investment trust, has updated its net asset value per share for its Class T, Class S, Class D, Class I, and Class E classes of common stock, as of June 30, 2021.
As of June 30, 2021, all share classes and OP units were valued at approximately $7.66, compared to the previous month’s NAVs per share of nearly $7.63.
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 $2.6 billion in May to $2.7 billion in June. Debt related investments remained at $47.8 million, while DST program loans increased slightly from $56 million to $56.8 million.
Cash and cash equivalents increased slightly from $11.6 million in May to $11.7 million in June. Restricted cash also increased slightly from $10.4 million $10.6 million, and other assets increased from $30.1 million to $30.5 million.
Line of credit, term loans and mortgage notes increased from ($868.2 million) in May to ($944 million) in June. Financing obligations associated with its DST program increased from ($575.5 million) to ($593.8 million) month-over-month, and other liabilities increased from ($38.8 million) to ($46.6 million).
As of June 30, 2021, Black Creek Diversified Property Fund owned a portfolio comprised of 58 properties totaling 12.2 million square feet that were 93.7 percent leased. The REIT launched in January 2006 and has raised more than $2.6 billion in multiple offerings.
In its current offering, the REIT raised approximately $471.9 million from the sale of approximately 62.5 million shares, including proceeds from the distribution reinvestment plan of approximately $36.7 million, as of July 1, 2021.