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Cantor Fitzgerald REIT Meets 100% Repurchase Requests; Total NAV Drops 6.5%

By Mari Nicholson

Cantor Fitzgerald REIT Meets 100 Repurchase Requests Total NAV Drops 65

Cantor Fitzgerald Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Rodin Global Property Trust, has declared a total net asset value as of July 31, 2024, of approximately $273.8 million. This was a 6.5% decrease month-over-month from June’s approximately $292.8 million total NAV.

On July 31, the company repurchased nearly 277,000 shares of common stock pursuant to its share repurchase program for aggregate consideration of $5.9 million, which represents 100% of repurchase requests. This was an improvement on the prior month where it met just 43% of repurchase requests.

The REIT reported its portfolio of real estate assets to be concentrated in multifamily (35.1%), single tenant office (31%), and single tenant industrial (30.5%). Its portfolio is geographically concentrated in Texas (30%), Ohio (27.9%), and California (14.7%), and nine other states.

Its declared monthly NAV per share as of July 31, 2024, was as follows:

Class S shares had a NAV per share of $20.39, compared to $21.44 per share the previous month, an approximate 4.9% decrease.

Class I shares had a NAV per share of $20.40 compared to $21.46 per share the previous month, an approximate 4.9% decrease.

Class T shares had a NAV per share of $20.39, compared to $21.44 per share the previous month, an approximate 4.9% decrease.

Class D shares had a NAV per share of $20.40, compared to $21.45 per share the previous month, an approximate 4.9% decrease.

Investment banking firm Robert A. Stanger & Co., Inc., recently expanded a segment of its monthly reports to include five additional NAV REITS, including the Cantor Fitzgerald REIT.

The company is offering on a continuous basis up to $1.25 billion in shares of common stock, consisting of up to $1 billion in shares in its primary offering and up to $250 million in shares pursuant to its distribution reinvestment plan. As of Aug. 19, aggregate issuance pursuant to the offering consisted of approximately 167,600 shares of common stock in the primary offering for total proceeds of $3.6 million, and 74,850 shares of common stock pursuant to the distribution reinvestment plan for a total value of $1.7 million. On Aug. 1, pursuant to the offering, the REIT issued and sold nearly 28,370 shares of common stock in the primary offering for total proceeds of $ 0.6 million, and nearly 13,220 shares of common stock pursuant to the distribution reinvestment plan for approximately $0.28 million.

As of the end of July, the REIT reported having approximately 13.4 million outstanding shares.

Cantor Fitzgerald Income Trust launched in March 2017 to invest in a portfolio of income-producing commercial real-estate, as well as debt secured by commercial real estate, located primarily in the United States.

For more Cantor Fitzgerald news, please visit their directory page.