MVP REIT and MVP REIT II Engage Ladenburg Thalmann & Co. to Assist with Strategic Alternatives and Stockholder Liquidity
June 14, 2016 17:57 ET | Source: MVP REIT, Inc. | GlobeNewswire
SAN DIEGO, June 14, 2016 (GLOBE NEWSWIRE) — MVP REIT, Inc. and MVP REIT II, Inc. announced today that the companies and their affiliated entities have engaged investment banking firm Ladenburg Thalmann & Co. Inc. to act as financial advisor in connection with investment banking matters, including the exploration of various courses of action to enhance stockholder liquidity and value.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), will advise the REITs on the possible listing of one or both of the company’s common stock on a national securities exchange, strategic alliances and acquisitions, potential borrowings and future capital raises. MVP REIT II also announced that it anticipates it will close its current public offering of its common stock on or about October 1, 2016. The board of directors of MVP REIT II may extend the closing date at its sole discretion.
“The MVP REITs are unique in that they invest solely in parking structures and facilities around the country, a compelling asset class that we believe provides us and our stockholders with tremendous upside opportunities,” said Mike Shustek, chairman and chief executive officer of MVP REIT, and president, chief executive officer and chairman of the board of MVP REIT II. “The engagement of Ladenburg Thalmann as our strategic advisor validates our pioneering investment strategy and may allow us to unlock additional stockholder value as we pursue further avenues to expand our portfolio and reach.”
About MVP REIT, Inc.
MVP REIT is a publicly registered, non-traded hybrid real estate investment trust. MVP REIT, which closed to new subscriptions on September 15, 2015, intends to use the proceeds from its offering to invest in a diversified portfolio of income producing commercial real estate properties and loans secured by income-producing commercial real estate as well as to pay expenses and fees associated with the offering.
About MVP REIT II, Inc.
MVP REIT II, Inc. intends to operate as a publicly registered, non-traded real estate investment trust. It is currently conducting a public offering of up to 20,000,000 shares of its common stock at $25.00 per share and up to an additional 2,000,000 shares of its common stock for issuance under its distribution reinvestment plan at $25.00 per share. MVP REIT II intends to invest in a portfolio of parking facilities located throughout the United States and Canada. For more information regarding MVP REIT II, please visit TheParkingREIT.com.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will,” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: volatility in the debt or equity markets affecting our ability to acquire or sell real estate assets; national and local economic, business and real estate market conditions, including the likelihood of a prolonged economic slowdown or recession; the ability to maintain sufficient liquidity and our access to capital markets; our ability to identify, successfully compete for and complete acquisitions and loans; and the performance of real estate assets and loans after they are acquired. Although MVP believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they can give no assurance that the expectations will be attained or that any deviation will not be material. MVP does not undertake any obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in expectations. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
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