Cantor Fitzgerald REIT Declares First NAV
The board of Rodin Global Property Trust Inc., a publicly registered non-traded REIT sponsored by Cantor Fitzgerald Investors, approved an estimated net asset per share of $24.64 per share for Class A, Class T and Class I shares, as of June 30, 2017. The calculation was performed by independent valuation firm Robert A. Stanger & Co.
Effective August 21st, Class A, Class T, and Class I shares will be priced at $25.94, $25.14, and $24.64 each, respectively. Distribution reinvestment shares will be priced at $24.64 each.
The REIT commenced its $1.25 billion initial public offering in March 2017 and satisfied the minimum offering requirement following the purchase of $2 million in Class I shares by Cantor Fitzgerald Investors.
Rodin Global Property Trust had not purchased any properties as of the second quarter of 2017, but acquired its first property last month for nearly $8 million.
Rodin Global Property Trust invests primarily in single-tenant net leased commercial properties located in the United States and Europe and raised approximately $5.2 million in investor equity, as of August 11, 2017. The primary offering is expected to terminate on March 23, 2019, unless extended by the board.
