Nuveen Global Cities REIT Declares Monthly Net Asset Value Per Share
Nuveen Global Cities REIT Inc., a publicly registered non-traded real estate investment trust, has declared a monthly net asset value per share for its classes of common stock, as of March 31, 2021.
Nuveen Global Cities REIT Inc., a publicly registered non-traded real estate investment trust, has declared a monthly net asset value per share for its classes of common stock, as of March 31, 2021.
Class T shares had an NAV per share of $10.79, compared to $10.71 per share the previous month.
Class S shares had an NAV per share of $10.74, compared to $10.68 per share the previous month.
Class D shares had an NAV per share of $10.87, compared to $10.80 per share the previous month.
Class I shares had an NAV per share of $10.89, compared to $10.82 per share the previous month.
Class N shares had an NAV per share of $11.06, compared to $10.97 per share the previous month.
Shares were originally priced at $10.00 each.
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, all as of March 31, 2021.
Investments in real estate increased from $550.9 million in February to $554.2 million in March. Investments in international affiliated funds decreased slightly from $51.1 million to $50.2 million month-over month. Investment in real estate-related assets totaled nearly $42.8 million in March, compared to $40.8 million in February.
Restricted cash increased from $30.9 million to nearly $52 million month-over-month, while cash and cash equivalents increased slightly from $5.5 million to $5.9 million.
Debt obligations decreased from ($172.1 million) in February to ($142.1 million) in March. Other liabilities increased from ($8.4 million) to nearly ($10 million), month-over-month.
Subscriptions received in advance increased from roughly ($30.9 million) in February to roughly ($52 million). The number of outstanding shares increased from nearly 43.1 million to 46 million, month-over-month.
Nuveen Global Cities REIT’s initial $5 billion offering was declared effective by the Securities and Exchange Commission in January 2018, and the company registered a follow-on offering in January 2021. The REIT has raised $227.9 million in investor equity as of mid-April 2021.
