UNLOCK THE POWER OF THE VAULT

Carter Validus Mission Critical REIT II Revises Primary Offering Prices, Adds Share Class

January 23, 2017

Carter Validus Mission Critical REIT II Revises Primary Offering Prices, Adds Share Class

January 24, 2017 | by James Sprow | Blue Vault

Businessman running forex background

As a result of the board of directors’ determination of the estimated per share net asset value, or NAV, of $9.07 as of June 30, 2016 for each share of Class A common stock and Class T common stock, the board of directors approved the revised primary offering prices of $10.078 per Class A share and $9.649 per Class T share and revised DRIP offering prices of $9.574 per Class A share and $9.167 per Class T share, effective October 1, 2016. Effective January 1, 2017, the board further revised the DRIP offering prices to be $9.07 per share for Class A shares and Class T shares. Commencing on an unspecified date in 2017, the Company is offering (i) up to $2,250,000,000 in shares of common stock pursuant to the primary offering, consisting of three classes of shares, in any combination: Class A shares of common stock at a price of $10.078 per share, Class I shares of common stock at a price of $9.162 per share, and Class T shares of common stock at a price of $9.649 per share and (ii) up to $100,000,000 shares pursuant to the DRIP for $9.07 per Class A share, $9.07 per Class I share, and $9.07 per Class T share. The primary offering prices are based on the most recent estimated per share NAV of $9.07 of each of the Class A common stock and Class T common stock, and any applicable per share upfront selling commissions and dealer manager fees. Starting on a yet-to-be-determined date in 2017, the REIT is offering the shares to investors on a best-efforts basis through SC Distributors LLC, its affiliated dealer manager. It plans to offer the shares until May 29, unless terminated earlier or extended by its board.

The company intends to use the net proceeds from the offering to acquire investments and to pay transaction-related fees.

Through September 30, 2016, the REIT offered up to $2,350,000,000 of shares of common stock, which consisted of up to $2,250,000,000 in shares of Class A common stock and Class T common stock in its primary offering for $10.00 per Class A share and $9.574 per Class T share, and up to $100,000,000 of shares pursuant to its distribution reinvestment plan, or DRIP, for $9.50 per Class A share and $9.095 per Class T share.

The REIT initially filed for a best-efforts offering in October 2013 for up to $2.35 billion of its common shares, through Sept. 30, 2016. According to sales reports to Blue Vault, the REIT raised $297 million in the offering in 2016.

didyouknow_sponsorfocus-green

Learn more about Carter Validus on our Sponsor Focus page.

Click Here

Go Back
Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.