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 May 31, 2022.
Class T shares had an NAV per share of $13.14, compared to $13.09 per share the previous month.
Class S shares had an NAV per share of $13.00, compared to $12.95 per share the previous month.
Class D shares had an NAV per share of $13.17, compared to $13.12 per share the previous month.
Class I shares had an NAV per share of $13.13, compared to $13.08 per share the previous month.
Class N shares had an NAV per share of $13.62, compared to $13.55 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 May 31, 2022.
The REIT’s investments in real estate increased from $1.43 billion in April to $1.46 billion in May, while investments in commercial mortgage loans remained flat at $186 million. Investments in international affiliated funds increased from $128.3 million to $132 million month-over-month.
Cash and cash equivalents increased from $253.3 million in April to $338.5 million in May, while restricted cash decreased from $134.5 million to $112.3 million month-over-month.
Debt obligations decreased slightly from ($371.7 million) to ($369.7 million), while other liabilities decreased from ($36 million) to ($28.8 million) month-over-month.
Subscriptions received in advance decreased from ($133.9 million) in April to ($111.6 million) in May, and the number of outstanding shares increased from 134.5 million to 144.9 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 $1.1 billion, as of May 27, 2022.