Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, has changed its name to Cantor Fitzgerald Income Trust Inc.
The REIT also amended its charter to redesignate its issued and outstanding classes of common stock, thus, Class A, Class T, and Class I shares have been redesignated as Class AX, Class TX, and Class IX shares, respectively.
In addition, the company reclassified the unissued common stock into four additional classes: Class T, Class S, Class D, and Class I shares.
According to a filing with the Securities and Exchange Commission, the company indicated that the seven share classes have the same voting rights and rights upon liquidation, although distributions are expected to differ due to the distribution fees paid with respect to Class D, Class S, Class T, and Class TX shares, which will reduce distributions to the holders of these shares. Additional information will be reported when provided by the company.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $153 million in investor equity, as of May 13, 2020. The REIT’s real estate investments are valued at $175.7 million, in addition to investments in real estate-related assets of $23.5 million.