InPoint Commercial Real Estate Income Inc., a commercial mortgage real estate investment trust, has declared a monthly net asset value per share for each share of common stock, as of July 31, 2019.
The registration statement for the company’s $2.35 billion initial public offering was declared effective in May 2019 and is comprised of Class A, Class T, Class S, Class D, and Class I shares.
Each share class has a NAV per share of $25.1096, which is the transaction price for subscriptions accepted as of September 3, 2019, the first business day of the month.
Last month, the NAV per share was $25.1116 for each share class.
Last month, InPoint closed its private offering, which launched in October 2016 and raised total gross proceeds of approximately $274 million. In addition, the company sold $590,000 shares in the public offering on August 1, 2019.
InPoint Commercial Real Estate Income’s primary focus in making commercial real estate debt investments will be to originate, acquire and asset manage first mortgage loans. The company oversees a portfolio of first mortgage loans, CMBS and credit loans that are secured by multifamily, industrial, office, hospitality and retail real estate assets located across the United States. The portfolio totals $564.7 million and is composed of 98 percent floating-rate investments.
InPoint Commercial Real Estate Income is advised by an affiliate of Inland Real Estate Investment Corporation and sub-advised by an affiliate of Sound Point Capital Management LP.