Rodin Global Property Trust Declares Distributions and Announces NAVs
February 17, 2020
On February 13, 2020, the board of directors of Rodin Global Property Trust, Inc. authorized, and the Company declared, distributions for the period from February 15, 2020 to May 14, 2020, 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. Based upon the December 31, 2019 estimated NAV per share (see below), the distribution represents an annualized rate of 6.17% for Class A and Class I shares.
The offering prices as of February 13, 2019 for the Company’s shares are as follows: Class A shares $26.43, Class T shares $25.60, Class I shares $25.11. Based upon the latest offering prices, the distribution rates are equal to 5.86% for Class A shares and 6.17 % for Class I shares.
Net Asset Values
On February 13, 2020, the Company’s board of directors approved an estimated net asset value (the “NAV”) as of December 31, 2019 of $25.11 for Class A and Class I shares of common stock, and $25.09 for Class T shares of common stock. The calculation of the Company’s estimated NAV was performed by Robert A. Stanger & Co., Inc., its independent valuation firm, in accordance with the procedures described in the “Net Asset Value Calculation and Valuation Procedures” section of the Company’s prospectus and under the oversight of the Company’s board of directors.
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 December 31, 2019 NAV for Class A and Class I shares of $25.11 represents a decrease of 0.6% from the December 31, 2018 NAV for Class A and Class I shares, and the $25.09 NAV for Class T shares also represents a decrease of 0.6% year-over-year.
As of December 31, 2019, the Company owned the following investments:
• A retail property located in Grand Rapids, Michigan.
• An office property located in Fort Mill, South Carolina.
• An office property located in Columbus, Ohio.
• A flex industrial property located in Lewisville, Texas.
• A Delaware Statutory Trust, CF Net Lease Portfolio IV DST, which owns seven properties.
• CF Albertsons Lancaster, LLC, which made a preferred equity investment through a joint venture agreement to purchase a cold storage and warehouse distribution facility located in Denver, Pennsylvania.
• CF Albertsons Chicago, LLC, which originated a fixed rate, subordinate mezzanine loan for the acquisition of a cold storage and warehouse distribution facility located in Melrose Park, Illinois.
• A majority interest in an office property located in San Francisco, California through a joint venture with an unrelated third party.
• An industrial property located in Phoenix, Arizona.
Source: SEC
