Nuveen Global Cities REIT Inc., a publicly registered non-traded real estate investment trust, had an aggregate NAV of approximately $2.105 billion as of Aug. 31, an increase of 0.61% month-over-month.
The transaction price for each class of common stock for subscriptions accepted as of Oct. 1, 2024 (and repurchases as of Sept. 30, 2024) is as follows:
Class T shares had a NAV per share of $11.72, compared to $11.73 the previous month, a decrease of approximately 0.09%.
Class S shares had a NAV per share of $11.58, compared to $11.59 the previous month, a decrease of approximately 0.09%.
Class D shares had a NAV per share of $11.75, compared to $11.76 the previous month, a decrease of approximately 0.09%.
Class I shares had a NAV per share of $11.70, compared to $11.71 the previous month, a decrease of approximately 0.09%.
Class N shares had a NAV per share of $12.18, compared to $12.19 the previous month, a decrease of 0.08%.
At the end of August, the REIT had approximately $32.8 million of restricted cash and 179.1 million outstanding shares of common stock. This was compared to $17 million of restricted cash and 177.8 million shares outstanding in the previous month.
The REIT is diversified across several sectors including industrial, healthcare, multifamily, grocery-anchored retail, single-family housing, office, and self-storage. More than half of its properties are located in the U.S. South, although it has assets across the United States, Europe, and Asia.
As of Aug. 31, the REIT had 499 properties that were 95% leased. It had a 21% leverage ratio.
Formed in May 2017, Nuveen Global Cities REIT launched its initial offering in January 2018 and raised $394.4 million in investor equity before closing in July 2021. Its $5 billion follow-on offering has raised nearly $2.11 billion, as of Sept. 16.
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