The board of Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, has approved an estimated net asset value per share for the company’s common stock as of December 31, 2017, according to a filing with the Securities and Exchange Commission.
Class A and Class I shares have a NAV per share of $24.95 each, and Class T shares have a NAV of $24.93 per share. The board previously approved an estimated NAV per share of $24.89 for Class A and Class I shares and $24.88 for Class T shares, as of September 30, 2017.
Independent valuation firm Robert A. Stanger & Co. assisted with the calculation, which was performed in accordance with Investment Program Association guidelines.
In other company news, Rodin Global Property Trust and its sponsor recently purchased a 150,000-square-foot office building in Fort Mill, South Carolina for $40 million that is fully leased to Daimler Trucks North America LLC.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $28.5 million in investor equity, as of February 12, 2018. As of the third quarter 2017, the company owned one retail property purchased for $7.9 million and a $2.4 million interest in a Delaware statutory trust, which owns seven properties.