Preliminary NAV

Preliminary NAV. The Net Asset Value of the Company calculated annually by the directors, including a majority of the Independent Directors, for the purpose of determining whether the Advisor is entitled to receive a Subordinated Participation Fee for an annual period. The Preliminary NAV consists of (i) the value of the Company's real estate assets and liabilities reported by an independent valuation firm, as it may be adjusted by the directors, (ii) plus all other assets held (iii) minus all accrued... liabilities of the Company. View More