InPoint Commercial Real Estate Income, Inc., a Maryland-based real estate investment trust (REIT), reported its net asset value (NAV) per share as of August 31, 2024, today. The company, which specializes in commercial mortgage loans and related investments, disclosed an aggregate NAV per share of $16.4829.
The NAV calculation, a key metric for REITs and their investors, was conducted in line with the company's valuation guidelines approved by its board of directors. The detailed process of determining the NAV is outlined in the company's prospectus for its public offering. InPoint's advisor, Inland InPoint Advisor, LLC, is responsible for determining the NAV, which is updated monthly and made available on the company's website.
As of the reported date, InPoint had not sold any Class S shares in its public offering. The company had previously halted the sale of shares in the primary portion of its public offering and its distribution reinvestment plan as of January 30, 2023.
The breakdown of the total net asset value attributable to common stock includes $660,041 in commercial mortgage loans and $24,035 in real estate owned. Cash and cash equivalents, along with restricted cash, totaled $47,129. Other assets were reported at $6,747.
Liabilities were outlined, including $418,765 in repurchase agreements tied to commercial mortgage loans and $56,226 in loan participations sold. The company also reported $1,574 due to related parties, $1,051 in distributions payable, and $3,840 in interest payable. Accrued stockholder servicing fees and other liabilities were also noted, alongside $88,168 in preferred stock.
The NAV per share for various classes of common stock ranged from $16.4720 for Class P shares to $16.6041 for Class T shares. The total net asset value attributable to common stock stood at $166,741, with 10,116 outstanding shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.