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CNL Growth Announces NAV of $5.01 Per Share

January 30, 2017

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CNL Growth Announces NAV of $5.01 Per Share

January 27, 2017 | James Sprow | Blue Vault

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On Jan. 24, 2017, the board of directors of CNL Growth Properties, Inc., established an updated estimated net asset value (NAV) of $5.01 per share of common stock as of Dec. 31, 2016 (2016 NAV), representing the fifth valuation of the company’s portfolio of assets. The estimated 2016 NAV of $5.01 per share compares to the revised estimated 2015 NAV of $4.00 per share. The estimated 2016 NAV of $5.01 per share is reflective of two liquidating distributions paid to shareholders in 2016 totaling $4.65 per share (see chart below). It is important to note that the board of directors made the decision to adjust for anticipated expenses and income that the REIT expects to incur or earn related to the plan of dissolution that was approved by shareholders on Aug. 4, 2016. These figures are estimated NAVs and are based upon assumptions derived from restricted use real estate appraisals and are not based upon a market price achieved by investors. Therefore, these estimates cannot be used to calculate NAV investor returns. The company’s actual investment performance is generally unknown until the liquidation of the company is completed.

Estimated revised 2015 NAV History and estimated 2016 NAV

NAV Per
Share

 

Effective

 

Description

$10.70

 

February 9, 2015

 

2014 estimated NAV per share as of December 31, 2014

($1.30)

 

February 9, 2015

 

Distribution to shareholders

$9.40

 

February 9, 2015

 

Revised estimated NAV per share after distribution

($1.70)

 

December 15, 2015

 

Distribution to shareholders

$7.70

 

December 15, 2015

 

Revised estimated NAV per share after distribution

$8.65

 

December 31, 2015

 

2015 NAV as of December 31, 2015

($2.35)

 

August 24, 2016

 

Liquidating distribution to shareholders

$6.30

 

August 24, 2016

 

Revised estimated NAV per share after distribution

($2.30)

 

December 8, 2016

 

Liquidating distribution to shareholders

$4.00

 

December 8, 2016

 

Revised estimated NAV per share after distribution

 $5.01

 

December 31, 2016

 

2016 NAV per share

 

Cash Distributions

$1.30

 

February 9, 2015

 

Distribution

$1.70

 

December 18, 2015

 

Distribution

$2.35

 

August 25, 2016

 

Liquidating Distribution

$2.30

 

December 2, 2016

 

Liquidating Distribution

$7.65

 

FOR ILLUSTRATION PURPOSES ONLY.

 

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