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 net asset value per share for its Class T, Class S, Class D, and Class I shares of common stock, as of February 28, 2021.
Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust, has declared a net asset value per share of $10.10 for its Class T, Class S, Class D, and Class I shares of common stock, as of February 28, 2021.
Recent NAVs per share were $10.10 as of January 31, 2021, $10.12 as of December 2020, $9.82 per share as of November 2020, and $9.73 as of October 2020. 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 $1.85 billion in January to $1.92 billion in February. Other assets increased from $159 million to $164 million, month-over-month, and debt and other liabilities increased from ($943.5 million) to ($972.7 million). The number of shares outstanding decreased from nearly 105.8 million in January to 110.3 million in February.
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 September 30, 2020, Hines Global Income Trust owned 20 real estate investments totaling 9.5 million square feet of space. From inception in August 2014 through November 30, 2020, the REIT raised $1.1 billion in investor equity in its public offerings. The company has raised $791.8 million in its current offering, as of March 17, 2021
Hines Global registered a $2 billion follow-on offering in early December 2020, and once effective, it will be the REIT’s third public offering.
