The board of Cole Credit Property Trust IV Inc., a publicly registered non-traded real estate investment trust, approved an estimated net asset value of the company’s common stock of $10.08 per share, as of December 31, 2016. This represents an increase over the previous per share NAV determined by the board of $9.92 as of September 30, 2016, and an estimated per share NAV of $9.70 as of August 31, 2015.
“CCPT IV’s net leased single-tenant assets and anchored shopping centers continue to perform well given the necessity-based nature of our tenants,” said Thomas Roberts, chief executive officer and president of CCPT IV. “Based on the portfolio’s strong diversification, along with its overall credit quality and tenant roster, we believe that CCPT IV continues to be well-positioned in today’s real estate market to maximize its value on behalf of our stockholders.”
Duff & Phelps LLC, an independent third party advisory firm, assisted with the valuation process and provided a range of $9.57 to $10.65 per share. The estimated per share NAV of $10.08, which is the approximate mid-point of the valuation range, was determined and approved by the board based.
The NAV estimate was based upon the estimated market value of the company’s assets, less the estimated market value of its liabilities, divided by the total shares outstanding.
Cole Credit Property Trust IV invests in income-producing retail commercial real estate primarily leased to creditworthy tenants under long-term, net leases. The company’s $4.8 billion portfolio is comprised of 882 properties, including nine joint venture properties, totaling 26.5 million square feet. As of December 31, 2016, the company has raised approximately $3.3 billion in investor equity.