The board of KBS Growth & Income REIT Inc., a publicly registered non-traded REIT, has approved an estimated net asset value of $9.20 per share of the company’s common stock, as of September 30, 2018.
The new NAV per share is an increase of 4.6 percent compared to last year’s valuation of $8.79 per share.
The valuation is based on the estimated value of the company’s assets less the estimated value of its liabilities, divided by the number of shares outstanding. Independent third-party firm Duff & Phelps LLC assisted with the valuation process which was performed in accordance with Institute for Portfolio Alternatives guidelines, the company said.
Duff & Phelps estimated that the NAV per share range was $8.50 to $9.92, with a mid-range value of $9.20 per share.
KBS Growth & Income REIT was formed in January 2015 and raised a combined $84.7 million in its private and public offerings, the latter of which commenced in April 2016. The REIT terminated its public offering on June 30, 2017 to prepare for and market the online private offering. As of the second quarter 2018, the company’s portfolio was comprised of four office properties purchased for approximately $190 million.
KBS Growth & Income REIT’s $1 billion private offering is distributed to investors via KBSDirect.com, an online portal that enables accredited investors to invest in professionally managed real estate portfolios.