Nuveen Global REIT Reports $2.09B Total NAV; Board OKs Repurchases in Excess of 2% Limit

Nuveen Global Cities REIT Inc. – a publicly registered non-traded real estate investment trust – declared a monthly net asset value per share for its classes of common stock, as of May 31, 2024. Nuveen had an aggregate NAV of approximately $2.09 billion as of the end of May, a decline of approximately 1.21% month-over-month.

During May 2024, the REIT received repurchase requests equal to approximately 2.47% of its NAV. The board of directors, including all of the independent directors, unanimously authorized repurchases in excess of the 2% limit for May 2024 such that it met 100% of share repurchase requests received on time in May.

The transaction price for each class of common stock for subscriptions accepted as of July 1, 2024 (and repurchases as of June 30, 2024) is as follows:

Class T shares had a NAV per share of $11.75, compared to $11.74 the previous month, an increase of 0.09%.

Class S shares had a NAV per share of $11.61, compared to $11.60 the previous month, an increase of 0.09%.

Class D shares had a NAV per share of $11.78, compared to $11.76 the previous month, an increase of 0.17%.

Class I shares had a NAV per share of $11.73, compared to $11.72 the previous month, an increase of 0.09%.

Class N shares had a NAV per share of $12.21, compared to $12.20 the previous month, an increase of 0.08%.

The number of shares outstanding totaled approximately 177.28 million at the end of May compared to nearly 179.69 million the previous month.

Formed May 2017, 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 approximately $2.03 billion, as of the end of April.

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