Black Creek Industrial REIT IV Inc., a publicly registered non-traded real estate investment trust, has updated the monthly per share net asset values for its Class T, Class W, and Class I common stock, as of October 31, 2020.
As of October 31, 2020, the REIT valued its Class T, Class W, and Class I shares at $10.0920 per share, compared to nearly $10.0904 per share the previous month. Shares were originally priced at $10.00 each.
Class T shares are available to the general public; Class W shares are generally available through fee-based programs known as wrap accounts; and Class I shares are available to institutional investors.
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 October 31, 2020. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
As of October 31, 2020, the REIT had roughly $1.33 billion investments in industrial properties, compared to approximately $1.29 billion the previous month. Investments in unconsolidated joint venture partnerships increased from $312.2 million in September to $316.5 million in October. Cash and cash equivalents increased from $180.7 million to $310.2 million month-over-month, and other assets decreased from approximately $10.3 million to $9.5 million.
Lines of credit, term loan and mortgage notes increased from ($464.3 million) in September to ($582.8 million), while other liabilities remained flat at ($26.3 million) in September to ($26.6 million) in October.
Black Creek Industrial REIT IV’s initial public offering was declared effective by the SEC in July 2017. The company has raised nearly $1.4 billion in investor equity, including DRIP proceeds, as of September 2020. As of the third quarter 2020, the REIT owned and managed, either directly or through joint venture partnerships, a total real estate portfolio of 124 industrial buildings totaling 29.4 million square feet, located in 23 markets throughout the United States.