Nuveen Global Cities REIT Updates 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 September 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 September 30, 2021.
Class T shares had an NAV per share of $11.92, compared to $11.61 per share the previous month.
Class S shares had an NAV per share of $11.81, compared to $11.52 per share the previous month.
Class D shares had an NAV per share of $11.99, compared to $11.68 per share the previous month.
Class I shares had an NAV per share of $11.95, compared to $11.65 per share the previous month.
Class N shares had an NAV per share of $12.27, compared to $11.95 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 September 30, 2021.
The REIT’s investments in real estate increased from $753 million in August to $855.4 million in September, while investments in real estate-related assets increased from $63.6 million to $79.9 million. Investments in international affiliated funds decreased slightly from $51 million to $50.5 million.
Cash and cash equivalents increased from $202.8 million in August to $226.7 million in September, while restricted cash increased from $73.2 million to $79 million month-over-month.
Debt obligations increased from ($228.1 million) in August to ($271.9 million) in September, while other liabilities increased from ($13.6 million) to ($15.4 million) month-over-month.
Subscriptions received in advance increased from ($73.2 million) in August to ($79 million) in September. The number of outstanding shares increased from 70.9 million to 77.3 million.
Nuveen Global Cities REIT’s initial offering launched in January 2018 and closed in July 2021 after raising $394.4 million in investor equity. The $5 billion follow-on offering has raised $186.9 million.
