Sila Realty Trust, Inc. Announces Estimated per Share Net Asset Value of $8.69
December 8, 2020
Sila Realty Trust, Inc., or the Company, a public, non-traded real estate investment trust focused on net-leased healthcare and data center properties, announced today that on December 1, 2020, its board of directors, or the Board, unanimously approved an updated estimated net asset value, or NAV, of $8.69 per share for each of the Company’s Class A common stock, Class I common stock, Class T common stock and Class T2 common stock, calculated as of September 30, 2020.
The increase in the aggregate real estate value of the Company’s same-store portfolio, defined as properties owned by the Company as of October 31, 2019, the calculation date of the last estimated per share NAV, combined with the value of recently acquired real estate were partly offset by costs related to the internalization transaction and changes in the fair value of debt and interest rate swaps as a result of a decrease in market interest rates.
Michael Seton, President and Chief Executive Officer, stated, “The increase in the estimated value of our same-store real estate portfolio, which drove a net increase in the NAV of the Company, signals strength and stability in the total portfolio, while also demonstrating the effectiveness of our proactive response to challenges faced during the unprecedented COVID-19 pandemic. Although pandemic-driven macroeconomic trends, particularly reductions in market interest rates as a result of the Federal Reserve’s support for the economy, impacted our interest rate hedges and borrowings, and an increase in debt incurred in conjunction with completing the internalization transaction contributed to the offset, we anticipate the projected cost savings from the Company’s recently internalized management structure and our experienced administration of the portfolio will continue to drive stockholder value in the future.”
The table below sets forth the reconciliation of the increase in the estimated per share NAV from October 31, 2019, at $8.65 to September 30, 2020, at $8.69:
About Sila Realty Trust, Inc.
Sila Realty Trust, Inc. is a public, non-traded real estate investment trust headquartered in Tampa, Florida, that invests in high-quality healthcare properties and data centers leased to tenants capitalizing on critical and structural economic growth drivers. As of September 30, 2020, the Company owned 153 real estate properties, consisting of 29 data centers and 124 healthcare properties located in 70 markets across the United States.
Source: SEC
