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 March 31, 2020. The company determines its net asset value as of the end of each quarter.
Class A and Class I shares have a NAV per share of $23.74, and Class T shares have a NAV of $23.72 per share, as of March 31, 2020. Shares were originally priced at $25.00 each.
This is a decrease from last quarter’s valuation of $25.11 for Class A and Class I shares, and $25.09 for Class T shares, as of December 31, 2019.
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 December 31, 2019.
Independent valuation firm Robert A. Stanger & Co. assisted with the calculation, which was performed in accordance with Institute for Portfolio Alternatives (formerly the Investment Program Association) guidelines.
In recent company news, Rodin Global Property Trust appointed Christopher Milner as president of the company following the resignation of Kenneth Carpenter.
In late March, the REIT extended its initial public offering and registered a proposed $1.25 billion follow-on offering as a perpetual life REIT.
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.