Home Alts News Hines Global Income Trust Reports Monthly NAV Per Share

Hines Global Income Trust Reports 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 April 30, 2023.

The REIT’s NAV per share decreased from $10.64 as of April 30, 2023, to $10.59 as of May 31, 2023. Shares were originally priced at $10.00 each and less applicable selling commissions, dealer manager fees and issuer costs equated to a net investment value of $8.92.

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 number of shares outstanding increased from 257.9 million in March to 259.6 million in April.

As of March 31, 2023, Hines Global Income Trust owned direct real estate investments in 38 properties totaling 16.5 million square feet that were 95% 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 May 16, 2023, the company had received gross offering proceeds of approximately $1.6 billion from the sale of 148.6 million shares through its public offerings, including shares issued pursuant to its distribution reinvestment plan.

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