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 Dec. 31, 2022.
Class T shares had an NAV per share of $12.78, compared to $13.02 per share the previous month.
Class S shares had an NAV per share of $12.65, compared to $12.88 per share the previous month.
Class D shares had an NAV per share of $12.82, compared to $13.05 per share the previous month.
Class I shares had an NAV per share of $12.77, compared to $13.00 per share the previous month.
Class N shares had an NAV per share of $13.25, compared to $13.48 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 Dec. 31, 2022.
The REIT’s investments in real estate increased from $2.23 billion in November to $2.25 billion in December, while investments in commercial mortgage loans decreased from $168.2 million to $168.1 million. Investments in international affiliated funds increased slightly from $123.8 million to $127.1 million, month-over-month.
Investments in real estate-related securities increased from $112.5 million in November to $116.4 million in December, while investments in real estate debt decreased from $98.6 million to $98.5 million.
Cash and cash equivalents increased from $40.1 million to $42.0 million, while restricted cash decreased from $66.7 million to $36.9 million, month-over-month. Other assets decreased from $12.4 million to $10.9 million.
Debt obligations increased from ($417.0 million) to ($437.6 million), and other liabilities decreased from ($73.7 million) to ($67.0 million), month-over-month.
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 $1.6 billion, as of mid-January 2023.
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