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Name | Symbol | Market | Type |
---|---|---|---|
InPoint Commercial Real Estate Income Inc | NYSE:ICR-A | NYSE | Preference Share |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.97 | 20.95 | 20.86 | 20.86 | 314 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code: |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
Determination of August 31, 2024 NAV per Share
InPoint Commercial Real Estate Income, Inc. (the “Company,” “we,” “our”) calculates net asset value (“NAV”) per share in accordance with the valuation guidelines that have been approved by its board of directors (the “Board”). Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.inland-investments.com/inpoint. The “Net Asset Value Calculation and Valuation Guidelines” section of our prospectus for our public offering (SEC Registration No. 333-264540), as supplemented, contains details regarding how our NAV is determined. Inland InPoint Advisor, LLC, our Advisor, is ultimately responsible for determining our NAV. We have included a breakdown of the components of total net asset value attributable to common stock and NAV per share for August 31, 2024.
Our total net asset value attributable to all classes of our common stock in the aggregate is presented in the following table. As of August 31, 2024, we had not sold any Class S shares of common stock in our public offering. As previously announced, on January 30, 2023, our Board unanimously approved the suspension of the sale of shares in the primary portion of our public offering and through our amended and restated distribution reinvestment plan. The following table provides a breakdown of the major components of our total net asset value attributable to common stock as of August 31, 2024 ($ and shares in thousands, except per share data):
Components of NAV |
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August 31, 2024 |
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Commercial mortgage loans |
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$ |
660,041 |
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Real estate owned |
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24,035 |
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Cash and cash equivalents and restricted cash |
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47,129 |
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Other assets |
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6,747 |
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Repurchase agreements - commercial mortgage loans |
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(418,765 |
) |
Loan participations sold |
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(56,226 |
) |
Due to related parties |
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(1,574 |
) |
Distributions payable |
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(1,051 |
) |
Interest payable |
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(3,840 |
) |
Accrued stockholder servicing fees (1) |
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(227 |
) |
Other liabilities |
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(1,360 |
) |
Preferred stock |
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(88,168 |
) |
Net asset value attributable to common stock |
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$ |
166,741 |
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Number of outstanding shares |
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10,116 |
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Aggregate NAV per share |
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$ |
16.4829 |
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The following table provides our total NAV attributable to common stock and NAV for each class of common stock in each case as of August 31, 2024 ($ and shares in thousands, except per share data):
NAV Per Share |
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Class P |
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Class A |
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Class T |
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Class S |
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Class D |
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Class I |
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Total |
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Net asset value attributable to common stock |
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$ |
141,046 |
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$ |
12,324 |
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|
$ |
4,821 |
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$ |
— |
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$ |
793 |
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$ |
7,751 |
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$ |
166,741 |
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Number of outstanding shares |
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8,563 |
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746 |
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290 |
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— |
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48 |
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469 |
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10,116 |
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NAV per share as of August 31, 2024 |
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$ |
16.4720 |
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$ |
16.5222 |
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$ |
16.6041 |
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$ |
— |
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$ |
16.5238 |
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$ |
16.5207 |
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$ |
16.4829 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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INPOINT COMMERCIAL REAL ESTATE INCOME, INC. |
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Date: |
September 16, 2024 |
By: |
/s/ Catherine L. Lynch |
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Catherine L. Lynch |
Document And Entity Information |
Sep. 16, 2024 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Sep. 16, 2024 |
Entity Registrant Name | InPoint Commercial Real Estate Income, Inc. |
Entity Central Index Key | 0001690012 |
Entity Emerging Growth Company | true |
Entity File Number | 001-40833 |
Entity Incorporation, State or Country Code | MD |
Entity Tax Identification Number | 32-0506267 |
Entity Address, Address Line One | 2901 Butterfield Road |
Entity Address, City or Town | Oak Brook |
Entity Address, State or Province | IL |
Entity Address, Postal Zip Code | 60523 |
City Area Code | (800) |
Local Phone Number | 826-8228 |
Entity Information, Former Legal or Registered Name | N/A |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Ex Transition Period | true |
Title of 12(b) Security | 6.75% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share |
Trading Symbol | ICR PR A |
Security Exchange Name | NYSE |
1 Year InPoint Commercial Real ... Chart |
1 Month InPoint Commercial Real ... Chart |
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