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 February 28, 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 February 28, 2022.
Class T shares had an NAV per share of $12.74, compared to $12.65 per share the previous month.
Class S shares had an NAV per share of $12.60, compared to $12.52 per share the previous month.
Class D shares had an NAV per share of $12.77, compared to $12.68 per share the previous month.
Class I shares had an NAV per share of $12.74, compared to $12.66 per share the previous month.
Class N shares had an NAV per share of $13.18, compared to $13.08 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 February 28, 2022.
The REIT’s investments in real estate increased from nearly $1.25 billion in January to $1.26 billion in February, while investments in commercial mortgage loans remained flat at $141.3 million. Investments in international affiliated funds increased slightly from $131.2 million to $131.6 million month-over-month.
Cash and cash equivalents increased from $55.6 million in January to $113.5 million in February, while restricted cash increased from $76.6 million to $120.1 million month-over-month.
Debt obligations increased from ($318.3 million) to ($322.3 million), while other liabilities increased from ($29.2 million) to ($21.8 million) month-over-month.
Subscriptions received in advance increased from ($76.4 million) in January to ($119.7 million) in February, and the number of outstanding shares increased from 107.1 million to 113.1 million.
In other company news, the board recently appointed Richard Kimble to serve as co-president of the REIT.
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 $644.3 million.
