InPoint Commercial Real Estate Income, Inc., a Maryland-based real estate investment trust (REIT), announced its updated Net Asset Value (NAV) per share for September 30, 2024. The company's NAV per share is calculated in accordance with guidelines approved by its board of directors and is updated monthly.
As of September 30, the total NAV attributable to the common stock of InPoint stood at approximately $166.9 million. The NAV per share was reported to be $16.4992. This figure comes from a detailed assessment of the company's assets and liabilities, including commercial mortgage loans valued at approximately $647.3 million and real estate owned at $24 million. The company also reported cash and cash equivalents, along with restricted cash, totaling around $58.8 million.
Liabilities deducted from the asset values included repurchase agreements on commercial mortgage loans amounting to approximately $418.8 million, loan participations sold at $56.3 million, and other liabilities. InPoint also reported $87.2 million in preferred stock.
The company provided a breakdown of the NAV per share across different classes of common stock, with Class P shares at $16.4883, Class A shares at $16.5389, Class T shares at $16.6247, Class D shares at $16.5422, and Class I shares at $16.5380.
InPoint had previously suspended the sale of shares in the primary portion of its public offering and through its distribution reinvestment plan as of January 30, 2023. The suspension remains in effect, and as reported, no Class S shares of common stock have been sold in the public offering.
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