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 April 30, 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 April 30, 2021.
Class T shares had an NAV per share of $10.94, compared to $10.79 per share the previous month.
Class S shares had an NAV per share of $10.89, compared to $10.74 per share the previous month.
Class D shares had an NAV per share of $11.02, compared to $10.87 per share the previous month.
Class I shares had an NAV per share of $11.03, compared to $10.89 per share the previous month.
Class N shares had an NAV per share of $11.22, compared to $11.06 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 April 30, 2021.
Investments in real estate increased from $554.2 million in March to $558.9 million in April. Investment in real estate-related assets totaled nearly $51.4 million in April, compared to $42.8 million in the previous month. Investments in international affiliated funds increased slightly from $50.2 million to $51.2 million month-over month.
Restricted cash decreased from $52 million to $45.2 million month-over-month, while cash and cash equivalents increased from $5.9 million to $78.6 million.
Debt obligations increased ($142.1 million) in March to ($168.1 million) in April. Other liabilities totaled ($10.4 million) in April, compared to nearly ($10 million) the previous month.
Subscriptions received in advance decreased from roughly ($52 million) in March to ($45.2 million) in April. The number of outstanding shares increased from 46 million to 50.7 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 $228.2 million in investor equity as of mid-May 2021.
