Carter Validus Mission Critical REIT II Raises Distributions per Share
October 2, 2017 | James Sprow | Blue Vault
On September 28, 2017, the board of directors of Carter Validus Mission Critical REIT II approved and authorized an additional daily distribution to Class A stockholders of record as of the close of business on each day of the period commencing on October 1, 2017 and ending on November 30, 2017 in the amount of $0.000021392 per share. This additional distribution amount and the daily distribution of $0.001767101 previously authorized and declared by the board of directors will equal an annualized rate of 6.40%, based on the revised primary offering purchase price of $10.20 per Class A share. The original offering price for Class A shares was $10.00. Based upon the original $10.00 share price, the new distribution rate would be equal to approximately 6.53% annualized.
The distributions for each record date in October 2017 and November 2017 will be paid in November 2017 and December 2017, respectively.
The board of directors also approved and authorized an additional daily distribution to Class I stockholders of record as of the close of business on each day of same period in the amount of $0.000021392 per share. This additional distribution amount and the daily distribution of $0.001767101 previously authorized and declared by the board of directors will equal an annualized rate of 7.04%, based on the revised primary offering purchase price of $9.273 per Class I share. Based upon the original $9.162 share price, the new distribution rate would be equal to approximately 7.125% annualized.
The board of directors approved and authorized an additional daily distribution to Class T stockholders of record as of the close of business on each day of the same period in the amount of $0.000018207 per share. This additional distribution amount and the daily distribution of $0.001501543 previously authorized and declared by the board of directors will equal an annualized rate of 5.68%, based on the revised primary offering purchase price of $9.766 per Class T share. Based upon the original $9.649 share price, the new distribution rate would be equal to approximately 5.75% annualized.
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