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 Dec. 31, 2022.
The REIT’s NAV per share decreased from $11.12 as of Nov. 30, 2022, to $10.89 as of Dec. 31, 2022. 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 from $3.88 billion in November to $3.85 billion in December. Other assets decreased from $330.9 million to $319.0 million, while debt and other liabilities increased from ($1.47 billion) to ($1.44 billion). The number of shares outstanding increased from 246.4 million in November to 250.6 million in December.
As of Sept. 30, 2022, Hines Global Income Trust owned direct real estate investments in 38 properties totaling 16.3 million square feet that were 96% leased. The company launched its third public offering of up to $2.5 billion in shares of its common stock on June 2, 2021 through which it is offering up to $2.5 billion in shares of common stock including $500.0 million of shares offered under its distribution reinvestment plan. As of Sept. 30, 2022, the company had received gross offering proceeds of approximately $2.6 billion from the sale of 251.3 million shares through its public offerings, including shares issued pursuant to its distribution reinvestment plan.
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