June 20, 2016
San Diego-based MVP REIT Inc. and MVP REIT II Inc. are exploring a potential stock offering and capital raises. The parking structures and facilities focused investment firms engaged Miami-based Ladenburg Thalmann & Co. Inc. as their financial advisor.
Among the considerations are listing one or both companies’ common stock on the Nasdaq securities exchange, potential acquisitions, alliances and future capital raising endeavors. The REIT’s Mike Shustek says there’s “tremendous upside opportunities” nationally in the parking-related sector.
MVP REIT, which closed to subscribers in 2015, has acquired 18 properties totaling $87.4 million in aggregated purchase cost. MVP REIT II is in the midst of an offering of up to $500 million in common stock shares that’s slated to close in October.
Tags: San Diego