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 December 31, 2020.
As of December 31, 2020, the REIT valued its Class T, Class W, and Class I shares at approximately $10.14 per share, compared to nearly $10.11 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 December 31, 2020. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
As of December 31, 2020, the REIT had $1.45 billion investments in industrial properties, compared to $1.37 billion the previous month. Investments in unconsolidated joint venture partnerships increased from $330.7 million in November to $375.5 million in December. Cash and cash equivalents decreased from $303.7 million to $232.4 million month-over-month, and other assets increased from approximately $3 million to $12.6 million.
Lines of credit, term loan and mortgage notes remained unchanged at ($582.8 million), while other liabilities increased from ($26.3 million) in November to ($43.3 million) in December.
Black Creek Industrial REIT IV’s initial public offering was declared effective by the SEC in July 2017 and has raised nearly $1.5 billion in investor equity, as of December 2020. As of the fourth quarter of 2020, the REIT owned and managed, either directly or through joint venture partnerships, a total real estate portfolio of 132 industrial buildings totaling 30.3 million square feet, located in 23 markets throughout the United States.