The board of Industrial Property Trust Inc., a publicly registered non-traded real estate investment trust, has unanimously approved an estimated net asset value of the company’s common stock of $11.11 per share as of November 30, 2017.
The new NAV per share is a 14.1 percent increase from last year’s estimated NAV of $9.74 per share.
The valuation is based on the estimated value of the company’s assets, less the estimated value of the its liabilities, divided by the number of shares outstanding and was performed within Investment Program Association’s valuation guidelines for non-traded REITs.
Duff & Phelps, an independent third-party valuation firm, conducted the valuation upon which the NAV was determined, providing the company with an estimated range of $10.70 to $11.47, with $11.11 being the approximate midpoint.
Industrial Property Trust focuses on distribution warehouses and other industrial properties that are leased to creditworthy corporate customers. The company has raised approximately $1.8 billion in investor equity since its first offering was declared effective in July 2013, as of the close of the third quarter 2017. The company’s portfolio consists of 294 industrial properties comprised of approximately 45.7 million square feet located in 26 markets throughout the U.S.