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 Sept. 30, 2022.
Class T shares had an NAV per share of $13.06, compared to $13.15 per share the previous month.
Class S shares had an NAV per share of $12.92, compared to $13.01 per share the previous month.
Class D shares had an NAV per share of $13.09, compared to $13.19 per share the previous month.
Class I shares had an NAV per share of $13.04, compared to $13.13 per share the previous month.
Class N shares had an NAV per share of $13.53, compared to $13.63 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 Sept. 30, 2022.
The REIT’s investments in real estate increased from $1.96 billion in August to $2.12 billion in September, while investments in commercial mortgage loans decreased from $263.9 million to $218.0 million. Investments in international affiliated funds decreased slightly from $125.4 million to $123.0 million, month-over-month.
Investments in real estate-related securities decreased from $107.1 million in August to $93.5 million in September, while investments in real estate debt increased from $84 million to $91 million.
Cash and cash equivalents increased from $74.8 million to $86.8 million, while restricted cash decreased from $68.0 million to $66.5 million, month-over-month. Other assets decreased from $19.7 million to $11.0 million.
Debt obligations increased from ($367.1 million) to ($460.9 million), and other liabilities increased from ($47.8 million) to ($56.0 million), month-over-month.
Subscriptions received in advance decreased from ($67.1 million) in August to ($65.4 million) in September, and the number of outstanding shares increased from nearly 164.8 million to 169.6 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.