Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share of $10.18 for its Class T, Class S, Class D, and Class I shares of common stock, as of May 31, 2021.
The REIT’s previous NAV per share was $10.15 as of April 30, 2021, and shares were originally priced at $10.00 each, plus applicable upfront selling commissions and dealer manager fees.
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.
The REIT’s real estate investments increased from $1.93 billion in April to nearly $2.28 billion in May. Other assets decreased from $188.9 million to $174.8 million, month-over-month, while debt and other liabilities increased from ($935 million) to ($1.2 billion). The number of shares outstanding increased from approximately 117.1 million in April to 120.2 million in May.
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 approximately $1.3 billion in investor equity in its public offerings. The REIT launched its second follow-on offering at the beginning of June.