The board of Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, has approved a new estimated net asset value per share for the company’s common stock. The company also extended the close date of its initial public offering for one year from March 23, 2019 until March 23, 2020.
The company’s new NAV per share for Class A and Class I shares is $25.26 each, while Class T shares have a $25.24 NAV per share, as of December 31, 2018.
Previously, Class A and Class I shares had an NAV per share of $25.24 each, and Class T shares had an NAV of $25.23 per share, as of June 30, 2018. Shares were initially priced at $25.00 each.
Independent valuation firm Robert A. Stanger & Co. assisted with the calculation, which was performed in accordance with Institute of Portfolio Alternatives (formerly the Investment Program Association) guidelines.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $70 million in investor equity, as of September 30, 2018. As of the third quarter 2018, the company owned a portfolio of three assets totaling $81.3 million, according to Summit Investment Research.