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 November 30, 2021.
Class T shares had an NAV per share of $12.21, compared to $12.14 per share the previous month.
Class S shares had an NAV per share of $12.07, compared to $12.01 per share the previous month.
Class D shares had an NAV per share of $12.25, compared to $12.19 per share the previous month.
Class I shares had an NAV per share of $12.22, compared to $12.16 per share the previous month.
Class N shares had an NAV per share of $12.60, compared to $12.51 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 November 30, 2021.
The REIT’s investments in real estate increased from $952.5 million in October to $1 billion in November, while investments in real estate-related assets remained flat at $86.4 million. Investments in international affiliated funds increased from $53.5 million to $80.4 million month-over-month.
Cash and cash equivalents decreased from $219.7 million in October to $130.1 million in November, while restricted cash increased from $81.3 million to $97.2 million month-over-month.
Debt obligations increased from ($271.7 million) to ($314.7 million), while other liabilities increased from ($18.4 million) to ($19.2 million) month-over-month.
Subscriptions received in advance increased from ($81.3 million) in October to ($97.5 million) in November, and the number of outstanding shares increased from 84.1 million to 90.9 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 $335.4 million.