Carter Validus Mission Critical REIT Suspends Share Redemption Program (SRP)
May 1, 2018 | Beth Glavosek | Blue Vault
On April 30, 2018, Carter Validus Mission Critical REIT determined that it had reached its limit on share redemptions, and that it will not be able to fully process all repurchase requests for the month of April 2018. As a result, the REIT’s Board determined to suspend the SRP for the remainder of the year ending December 31, 2018. Such suspension will go into effect for the May 2018 repurchase period and will continue until such time as the Board may approve the resumption of the SRP.
The REIT limits the number of shares repurchased during any calendar year to 5% of the number of shares of its common stock outstanding on December 31 of the previous calendar year.
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