Brookfield Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Oaktree Real Estate Income Trust, declared a total monthly net asset value and a monthly NAV per share for its shares of common stock for the month ended Aug. 31, 2024, and reported in the Sept. 17 supplement.
The total NAV was approximately $896.7 million as of Aug. 31 30, a 1.83% decrease on the month prior (approximately $913.5 million).
Class S shares were valued at $10.9145 as of Aug. 31 compared to $11.0662 per share the month prior, an approximate 1.37% decrease.
Class I shares were valued at $11.0178 per share compared to $11.1665 per share the month prior, an approximate 1.33% decrease.
Class D shares were valued at $11.1154 per share, compared to $11.2666 per share the month prior, an approximate 1.34% decrease.
Class T shares were valued at $11.0178 per share, compared to $11.1665 per share the month prior, an approximate 1.33% decrease.
Shares were originally priced at $10.00 each, plus applicable upfront selling commissions and dealer manager fees.
The company continues to satisfy repurchase requests submitted by stockholders. In April 2024, it received repurchase requests equal to 2.3% of its aggregate NAV and during the calendar quarter ended June 30, 2024, it received repurchase requests equal to 5.6% of its aggregate NAV. Its board of directors, including independent directors, unanimously authorized repurchases in excess of the 2% monthly and 5% quarterly limitations both times so that 100% of share repurchase requests were met.
As of the end August 2024, Brookfield’s portfolio consisted of 88% real estate properties and 12% real estate-related loans and securities. The real estate properties consisted of rental housing (68%), net lease (24%), logistics (5%), and office (3%). Also, there were nearly 81.87 million outstanding shares as of Aug. 31, compared to nearly 82.28 million the previous month.
The REIT is currently offering on a continuous basis up to $7.5 billion in shares of common stock, consisting of $6 billion in shares in its primary offering and $1.5 billion in shares pursuant to its distribution reinvestment plan. As of Sept. 17, the company had issued and sold nearly 33.3 million shares of its common stock in the primary offering for total proceeds of approximately $434 million, and approximately 2.8 million shares of its common stock pursuant to the distribution reinvestment plan for a total value of approximately $35.3 million.
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