Hartman vREIT XXI Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share of $11.70 for its Class A common stock and $11.23 for Class T shares, as of December 31, 2018.
The NAV per share is based on the estimated value of the company’s assets, less the estimated value of its liabilities divided by the number of outstanding shares, all as of December 31, 2018.
As of December 31, 2018, the REIT owned three properties, and a 5.89 percent interest in an affiliate that owns 39 office, retail and light industrial properties in Houston, Dallas, and San Antonio, Texas. The fair value of these investments was $51.5 million at the time of the valuation.
Hartman vREIT XXI commenced its initial public offering in June 2016 for up to 25 million shares of common stock priced at $10.00 per share. In June 2019, the company registered a follow-on offering for up to $220 million of its Class A shares and Class T shares.
Hartman vREIT XXI invests in value-oriented commercial properties, including office, retail, industrial, and warehouse properties located primarily in Texas, that the company believes have the potential for growth in income and value from re-tenanting, repositioning, redevelopment, and operational enhancements. Hartman vREIT XXI broke escrow on December 1, 2016 and had raised approximately $50.4 million in investor equity since inception, as of May 31, 2019.