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 March 31, 2022.
The REIT’s NAV per share was $11.02 as of March 31, 2022, compared to $10.85 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 decreased slightly from $2.97 billion in February to $2.94 billion in March. Other assets increased from $225.6 million to $344.5 million, while debt and other liabilities decreased from ($1.35 billion) to ($1.30 billion). The number of shares outstanding increased from to 170.4 million in February to 180.1 in March.
From inception in August 2014 through April 15, 2022, Hines Global Income Trust raised approximately $2.1 billion in investor equity in its three public offerings and distribution reinvestment plan. The REIT launched its second follow-on offering at the beginning of June 2021 and has raised $730.8 million as of April 15, 2022.