IPC REIT OKs 17.7% Increase in Distribution to Stockholders to Kickoff 2025
IPC Alternative Real Estate Income Trust Inc. – a non-traded real estate investment trust sponsored by Inland – authorized a gross distribution for each class of its common stock in an amount per share equal to $0.1042 for stockholders of record as of Jan. 31, 2025, compared to the $0.0885 per share gross distribution for the prior month.
The company said that the 17.7% per share distribution increase reflects its view that the improving economic landscape and strengthening market fundamentals will support sustained growth and long-term value creation for its stockholders.
The REIT reported an aggregate net asset value of approximately $141.6 million at the end of November 2024, a 0.46% decrease in value month-over-month.
The monthly net asset value per share for its classes of common stock, as of Nov. 30, 2024, were as follows.
Class T shares had a NAV per share of $24.1347 at the end of November, compared to $24.14 the previous month, an increase of 0.02%.
Class S, D, and I shares had a NAV per share of $24.3083, compared to $24.2688 the previous month, an increase of 0.16%.
As of Dec. 16, the REIT had not sold any Class S or Class D shares. Until it sells shares of Class S and Class D common stock, the transaction price for these classes was based on NAV per share of its Class I shares as of Nov. 30.
The REIT, launched in fall 2023, is offering on a continuous basis up to $1.25 billion in shares of common stock, consisting of up to $1 billion in shares in its primary offering and up to $250 million in shares pursuant to its distribution reinvestment plan. As of Dec. 16, the company had issued and sold 198,694 shares of common stock in the primary offering for total proceeds of $4.9 million, and 357 shares of common stock pursuant to its distribution reinvestment plan for a total value of $8,687. It intends to continue selling shares in the offering on a monthly basis.
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