October 3, 2023
Mobile Infrastructure Corp.’s Listing Goes South
Mobile Infrastructure Corporation (formerly known as The Parking REIT, Inc.) was a nontraded REIT corporation formed on May 4, 2015. The Company focuses on acquiring, owning and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States...

Mobile Infrastructure Corp.’s Listing Goes South

October 3, 2023 | James Sprow | Blue Vault

Mobile Infrastructure Corporation (formerly known as The Parking REIT, Inc.) was a nontraded REIT corporation formed on May 4, 2015. The Company focuses on acquiring, owning and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States.

Mobile Infrastructure Corporation’s common stock commenced trading on the New York Stock Exchange American under the ticker “BEEP” on August 28, 2023.

As of June 30, 2023, the Company owned 43 parking facilities (including one property classified as held for sale) in 22 separate markets throughout the United States, with a total of 15,676 parking spaces and approximately 5.4 million square feet.

Prior to the listing, Mobile Infrastructure Corp. merged with Fifth Wall Acquisition Corp. III, a special purpose acquisition company (“SPAC”) sponsored by an affiliate of Fifth Wall, the largest venture capital firm focused on technology for the built world. The REIT announced the completion of its business combination on August 25. The transaction valued the equity of Mobile at $15.00 per share versus its published 2022 Net Asset Value (“NAV”) of $14.76 per share.

Clearly, the stock market is not buying the valuation put forward by the REIT in its public pronouncements. The listed REIT has recently traded as low as $3.53 per share after opening its trading on August 28, 2023, trading as high as $13.99 per share.

Sources: SEC, finance.yahoo.com

Recent

Continuous Offering NTR NAV and Return Data

Continuous Offering NTR NAV and Return Data

Blue Vault was built on the belief that transparency, education and access are the essential ingredients for wealth advisors to bring alts to the forefront of their practices.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now