ThZeal - The Zeal

sreit-20231115

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 15, 2023

Sculptor Diversified Real Estate Income Trust, Inc.

(Exact Name of Registrant as Specified in its Charter)

Maryland

000-56566

88-0870670

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS. Employer

Identification No.)


9 West 57th Street, 40th Floor New York, NY 10019
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 790-0000

Not Applicable

(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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

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.

October 31, 2023 Net Asset Value (“NAV”) per Share

On November 15, 2023, Sculptor Diversified Real Estate Income Trust, Inc. (“we” or “us”) released the NAV per share for each share class of our common stock as of October 31, 2023, which amounts are as follows:


	NAV per Share
Class F	$	10.8011
Class FF	$	10.6895

NAV Calculation

We calculate NAV per share in accordance with the valuation guidelines that have been approved by our board of directors. Our total NAV presented in the following tables includes the NAV of our Class F and Class FF common shares, which were reduced by the noncontrolling interests in our consolidated subsidiaries and the Operating Partnership.

The following table provides a breakdown of the major components of our NAV as of October 31, 2023 (amounts in thousands, except share/unit data):


Components of NAV
Investments in real estate, net (including goodwill)	$	524,480
Cash and cash equivalents	16,911
Restricted cash	7,342
Receivables	550
Other assets	4,453
Mortgages, credit facility and financing obligations, net	(254,847)
Accounts payable and other liabilities	(6,657)
Distributions payable	(1,309)
Management fee payable	(747)
Due to a related party	(226)
Accrued performance participation allocation	(1,428)
Noncontrolling interest in the consolidated subsidiaries	(57,644)
Noncontrolling interest in the Operating Partnership	(2)
Net Asset Value	$	230,876
Number of outstanding shares/units	21,430,709

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of October 31, 2023 (amounts in thousands, except share/unit and per share/unit data):


NAV per share	Class F Shares		Class FF Shares		Total
NAV	$	173,448	$	57,428	$	230,876
Number of outstanding shares/units	16,058,378		5,372,331		21,430,709
NAV Per Share/Unit	$	10.8011	$	10.6895	$	10.7731

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Sculptor Diversified Real Estate Income Trust, Inc.

By:			/s/ Dava Ritchea
Name:			Dava Ritchea
Title:			Chief Financial Officer

Date:			November 15, 2023