Rodin Global Property Trust Extends Offering and Announces Distributions and NAV
February 18, 2019 | James Sprow | Blue Vault
On February 12, 2019, the board of directors of Rodin Global Property Trust, Inc. authorized the extension of the term of the company’s initial public offering until March 23, 2020.
On February 12, 2019, the board of directors of the nontraded REIT authorized, and the company declared, distributions for the period from February 15, 2019 to May 14, 2019, in an amount equal to $0.004253787 per day per share (or approximately $1.55 on an annual basis). Distributions will be payable by the 5th business day following each month end to stockholders of record at the close of business each day during the prior month.
On February 12, 2019, the Company’s board of directors approved an estimated net asset value (“NAV”) as of December 31, 2018 of $25.26 per share for Class A shares and Class I shares and $25.24 per share for Class T shares.
The purchase price per share for each class of the Company’s common stock will generally equal the prior quarter’s NAV per share, as determined quarterly, plus applicable selling commissions and dealer manager fees. The NAV for each class of shares is based on the value of the Company’s assets and the deduction of any liabilities, and any distribution fees applicable to such class of shares.
As of December 31, 2018, the REIT had $109.9 million invested in real estate, $17.1 million in real estate-related assets, $14.0 million in cash and cash equivalents, and $51.7 million in debt obligations.