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 shares of common stock, as of September 30, 2021.
As of September 30, 2021, all share classes were valued at nearly $7.83, compared to approximately $7.74 last 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 $2.72 billion in August to $2.88 billion in September. Debt related investments hovered around $47.8 million, while DST program loans increased slightly from $56.5 million in August to $58.3 million in September.
Cash and cash equivalents increased from $10 million in August to $12.5 million in September. Restricted cash decreased slightly from $10.6 million to $10.5 million, and other assets decreased from $35.9 million to $32.4 million.
Line of credit, term loans and mortgage notes increased from ($848.5 million) in August to ($921.3 million) in September. Financing obligations associated with its DST program increased from ($603.3 million) to ($629.7 million) month-over-month, and other liabilities increased from ($49.9 million) to ($56.7 million).
In September, the REIT purchased two industrial properties for $128.4 million.
As of September 30, 2021, Black Creek Diversified Property Fund owned a portfolio of 61 real estate properties totaling approximately 12.6 million square feet that were 94.8 percent leased.
The REIT launched in January 2006 and has raised more than $2.7 billion in multiple offerings. In its current offering, it has raised approximately $545.6 million from the sale of approximately 72 million shares, including proceeds from the distribution reinvestment plan of approximately $41 million, as of October 1, 2021.