The board of Cole Credit Property Trust V Inc., a publicly registered non-traded real estate investment trust, approved an $18.96 net asset value per share of the company’s Class A and Class T common stock as of June 30, 2020.
Last quarter’s valuation was $18.62 per share, which represents an increase of 1.8 percent. Shares were originally priced at $25.00 each.
The NAV per share is based on the estimated market value of the company’s assets ($709.5 million), less the estimated market value of its liabilities ($388 million), divided by the total number of shares outstanding (17 million), as of June 30, 2020.
Last quarter, the REIT had total assets of $689.7 million, total liabilities of $373.4 million, and 17 million in shares outstanding.
Duff & Phelps, an independent third-party consulting firm, provided a valuation range of $17.71 to $20.30 per share, with $18.96 as the approximate midpoint.
Cole Credit Property Trust V invests in retail commercial real estate primarily leased to creditworthy tenants under long-term net leases. The company launched its initial public offering in March 2014 and oversees an approximately $685 million portfolio of 150 properties. Cole Credit Property Trust V is operated by CCO Group LLC, a subsidiary of CIM Group.