The board of NorthStar Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, approved an estimated value of the company’s common stock of $9.92 per share, as of December 31, 2016. The company’s previous NAV was $9.87 per share, as of December 31, 2015.
The NAV per share is based upon the estimated value of NorthStar Income’s assets less the estimated value of its liabilities, divided by the number of shares of common stock outstanding, as of December 31, 2016.
Duff & Phelps, an independent third-party valuation firm engaged by the REIT, assisted with the valuation of its assets and liabilities. Duff & Phelps delivered a report of the REIT’s 20 commercial real estate debt investments, nine commercial real estate property investments comprised of 42 individual properties, three portfolios of private equity real estate fund interests, 11 commercial mortgage-backed securities, and 16 CRE-related liabilities.
Duff & Phelps estimated that the NAV of NorthStar Income’s common stock ranged from $9.42 to $10.17 per share, as of December 31, 2016, and the board approved the estimated NAV of $9.92 per share at the audit committee’s recommendation.
NorthStar Real Estate Income was declared effective by the SEC in July 2010 and closed in July 2013 after raising more than $1.1 billion.