Hines Global Income Trust Declares Monthly NAV Per Share
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a monthly net asset value per share.
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share for its Class T, Class S, Class D, and Class I shares of common stock, as of July 31, 2021.
The REIT’s NAV per share was $10.25 as of July 31, 2021, unchanged from the previous month. 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 $2.32 billion in June to $2.33 billion in July. Other assets decreased from $175.1 million to $164.4 million, month-over-month, while debt and other liabilities decreased from ($1.22 billion) to ($1.18 billion). The number of shares outstanding increased from approximately 124.9 million in June to 127.8 million in July.
From inception in August 2014 through May 13, 2021, Hines Global Income Trust 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 2021 and has raised $78.9 million as of August 17, 2021.
