Oaktree Real Estate Income Trust Updates Portfolio, NAVs, and Pricing
November 4, 2020
Portfolio Updates for the Month Ended September 30, 2020:
“Our NAV per share increased for the month ending September 30, 2020, up $0.08 and $0.06 on our Class I and Class S shares, respectively. The price movement was driven by appreciation on our real estate equity investments and real estate-related debt investments, partially offset by increases to our debt liabilities. Rent and interest income collections also remained steady, with September collections reported at 93% compared to 93% the prior month after accounting for contractual rent deferrals. There was no contractual rent deferral for September and 1% for the prior month.”
“The current portfolio is invested 71% in real property, 20% in real estate-related debt and 9% cash and cash equivalents. Our real property investments are split between multifamily (52%) and office (48%). The Company’s leverage ratio decreased to 40% compared to 41% in the prior month.”
November 1, 2020 Transaction Price
“The transaction price for each share class of our common stock for subscriptions accepted as of November 1, 2020 (and repurchases as of October 30, 2020) is as follows:
Transaction Price (per share):
Class S $10.3603; Class I $10.4261; Class T $10.4261; Class D $10.4261
The transaction price for each of our share classes is equal to such class’s NAV per share as of September 30, 2020.”
“As of September 30, 2020, we had not sold any Class T shares or Class D shares. The transaction price for our Class T and Class D shares is based on our aggregate NAV per share as of September 30, 2020 before assessing stockholder servicing fees. The purchase price of our common stock for each share class equals the transaction price.”
October 2020 Distributions
“On October 29, 2020, Oaktree Real Estate Income Trust, Inc. (the “Company”) declared distributions for each class of its common stock in the amount per share set forth below:
The net distributions for each class of common stock (which represents the gross distributions less stockholder servicing fees for the applicable class of common stock) are payable to stockholders of record immediately following the close of business on October 29, 2020 and will be paid on or about November 20, 2020. These distributions will be paid in cash or reinvested in shares of the Company’s common stock for stockholders participating in the Company’s distribution reinvestment plan.”
Source: SEC
