Black Creek Industrial REIT IV Declares Slightly Lower Net Asset Value Per Share
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 April 30, 2020.
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 April 30, 2020.
As of April 30, 2020, the REIT valued its Class T, Class W, and Class I shares at $10.0629 per share, compared to $10.0645 per share the previous month. In February 2020, Class T, Class W, and Class I shares each had an NAV per share of approximately $10.07.
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, 2020. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
As of April 30, 2020, the REIT had approximately $963.1 million investments in industrial properties, compared to $941 million the previous month. Cash and cash equivalents increased from $424.8 million at the end of March to nearly $518.6 million at the end of April, and other assets increased from $13.8 million to $20.7 million, month-over-month.
Lines of credit, term loan and mortgage notes remained flat at $356.8 million, while other liabilities increased from ($15.8 million) in March to ($16.2 million) in April.
The $10.06 per share transaction price for each share class will apply for subscriptions accepted as of June 1, 2020, distribution reinvestment plan shares issued following the close of business on May 29, 2020 and share redemptions as of May 31, 2020.
Black Creek Industrial REIT IV’s initial public offering was declared effective by the SEC in July 2017. The company has raised more than $1 billion in investor equity in the private and public offerings, including DRIP proceeds, as of March 31, 2020. The company oversees a real estate portfolio of 46 industrial buildings, as of the first quarter of 2020.
