Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share of $10.15 for its Class T, Class S, Class D, and Class I shares of common stock, as of April 30, 2021.
The previous NAV per share was $10.10 as of March 31, 2021. Shares were originally priced at $10.00 each, plus applicable upfront selling commissions and dealer manager fees.
The REIT’s real estate investments increased from $1.91 billion in March to $1.93 billion in April. Other assets increased from $170.2 million to $188.9 million, month-over-month, while debt and other liabilities decreased from ($944.5 million) to ($935 million). The number of shares outstanding increased from nearly 112.9 million in March to approximately 117.1 million in April.
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. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
As of the first quarter of 2021, Hines Global Income Trust owned 23 real estate investments totaling 11.1 million square feet of space. From inception in August 2014 through May 13, 2021, the REIT raised $1.3 billion in investor equity in its public offerings. The company has raised $874.3 million in its current offering, as of mid-May 2021.
The REIT registered a $2 billion follow-on offering in early December 2020, and once effective, it will be the third public offering. The anticipated timing is in the second quarter of 2021.