Rodin Global Property Trust Declares Increased Net Asset Value
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.
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.
