Hines Global Income Trust Inc., a publicly registered non-traded real estate investment trust sponsored by Hines, has declared a net asset value per share for its Class T, Class S, Class D, and Class I shares of common stock, as of Aug. 31, 2024.
After two straight months at $10.00, the REIT’s NAV per share increased by 0.2% to $10.02, where it was in the first half of 2024. Shares were originally priced at $10.00 each.
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. Altus Group U.S. Inc., a third-party firm, assisted with the valuation process.
As of Aug. 31, 2024, the company’s total NAV was approximately $2.63 billion, compared with just over $2.62 billion as of July 31, an increase of approximately 0.06%. The number of shares outstanding increased from 262.1 million in July to 262.3 million in August.
As of the same date, the company also reported that it owned interests in 42 real properties that were 96% leased and consisted of 18 million square feet of leasable space. The portfolio was 33% levered based on the valuations of its real properties.
Hines Private Wealth Solutions recently closed HREX Multifamily II, DST, a Delaware statutory trust and subsidiary of the Hines REIT. According to Hines, the DST owns The Emerson, a luxury apartment complex in Centreville, Va.
The REIT also reported that it declared its monthly distributions for the month of September at the gross distribution rate of $0.052 for each class of its common stock. Distributions will be paid to stockholders of record as of the last business day of September 2024 and will be paid on the first business day of October 2024.
As of the end of August, the portfolio was weighted to industrial (36%), residential/living (29%), office (17%), retail (9%), and other (9%). 69% of the properties were reported as domestic, while 31% were international.
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