Nuveen Global Cities REIT Reports NAV 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 July 31, 2022.
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 July 31, 2022.
Class T shares had an NAV per share of $13.21, compared to $13.11 per share the previous month.
Class S shares had an NAV per share of $13.07, compared to $12.98 per share the previous month.
Class D shares had an NAV per share of $13.24, compared to $13.15 per share the previous month.
Class I shares had an NAV per share of $13.19, compared to $13.10 per share the previous month.
Class N shares had an NAV per share of $13.67, compared to $13.58 per share the previous month.
Shares were originally priced at $10.00 each, plus applicable selling commissions and fees.
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 July 31, 2022.
The REIT’s investments in real estate increased from $1.57 billion in June to $1.80 billion in July, while investments in commercial mortgage loans increased from $126.1 million to $263.2 million. Investments in international affiliated funds decreased from $128.3 million to $125.2 million, month-over-month.
Investments in real estate-related securities increased from $105.3 million in June to $113.9 million in July, while investments in real estate debt hovered around $83 million.
Cash and cash equivalents decreased from $359 million to $177.6 million, while restricted cash decreased from $87.7 million to $64.3 million, month-over-month. Other assets increased from $8.7 million to $13.5 million.
Debt obligations increased from ($322.9 million) to ($412.6 million), and other liabilities increased slightly from ($36 million) to ($36.8 million), month-over-month.
Subscriptions received in advance decreased from ($86.9 million) in June to ($63.4 million) in July, and the number of outstanding shares increased from nearly 153.2 million to 159.7 million.
Nuveen Global Cities REIT launched its initial offering in January 2018 and raised $394.4 million in investor equity before closing in July 2021. Its $5 billion follow-on offering has raised nearly $1.25 billion, as of mid-August 2022.
