Corporate Property Associates 18 – Global Inc., a publicly registered non-traded real estate investment trust managed by W.P. Carey Inc. (NYSE: WPC), has updated the net asset value per share of the company’s common stock, according to a filing with the Securities and Exchange Commission.
As of September 30, 2018, Class A and Class C shares have a NAV of $8.73 per share, an increase of 1.9 percent from the previous NAV of $8.36 per share at June 30, 2018. The company noted that the change was primarily due to the appreciation of the real estate portfolio.
Once every quarter, the company obtains an independent rolling appraisal of the fair market value of approximately 25 percent of its real estate portfolio based on asset value. The portfolio of assets to be appraised each quarter will be representative of the composition, by both geography and property type, of the entire portfolio. If there is a change within +/-1 percent of the most recently published NAVs, the company does not change the NAVs.
CPA:18 – Global’s offering was declared effective in May 2013 and closed in April 2015 after raising $1.2 billion in investor equity. The company’s portfolio consists of 137 properties with an investment cost of $2.4 billion, according to Summit Investment Research.