Home Alts News Black Creek Industrial REIT IV Declares Monthly NAV Per Share

Black Creek Industrial REIT IV Declares Monthly NAV Per Share

Black Creek Industrial REIT IV Inc., a publicly registered non-traded real estate investment trust, has declared its monthly per share net asset value for its Class T, Class W, and Class I common stock, as of April 30, 2021.

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Black Creek Industrial REIT IV Inc., a publicly registered non-traded real estate investment trust, has declared its monthly per share net asset value for its Class T, Class W, and Class I common stock, as of April 30, 2021.

At April 30, 2021, the REIT’s Class T, Class W, and Class I shares were valued at approximately $10.25 per share, compared to roughly $10.20 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 April 30, 2021. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.

As of April 30, 2021, the REIT had $1.63 billion investments in industrial properties, compared to $1.55 billion the previous month. Investments in unconsolidated joint venture partnerships increased from $385.6 million in March to $397.3 million in April.

Cash and cash equivalents decreased slightly from $232.5 million to $232 million month-over-month, and other assets increased from approximately $12.4 million to $12.6 million.

Lines of credit, term loan and mortgage notes remained unchanged at nearly ($582.8 million), while other liabilities decreased from ($27.8 million) in March to ($24.8 million) in April.

During the month, the REIT purchased one building for approximately $75 million and leased approximately 0.8 million square feet of space within its total portfolio, which included 0.7 million square feet of new and future leases and 0.1 million square feet of renewals.

Black Creek Industrial REIT IV’s initial public offering was declared effective by the SEC in July 2017, and as of April 30, 2021, had raised gross proceeds of approximately $1.2 billion from the sale of approximately 117 million shares in the offering, including distribution reinvestment plan of approximately $45.3 million.

As of April 30, 2021, the REIT owned and managed a real estate portfolio of 135 industrial buildings totaling 31.1 million square feet, located in 23 markets throughout the United States.

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