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MVP REIT Declares $9.14 NAV Per Share

MVP REIT Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors determined an estimated net asset value of $9.14 per share of the company’s common stock. Shares in the initial public offering were originally sold for $9.00 each. The NAV of $9.14 per share will be used for stock redemptions and issuing DRIP shares.

In determining the estimated NAV per share, the board of directors relied on information provided by MVP Realty Advisors LLC, the company’s advisor, and the board’s experience with and knowledge of the company’s property and other assets. The valuations were performed in accordance with the guidelines issued by the Investment Program Association.

MVP REIT engaged Parking Property Advisors LLC, an independent third party valuation firm, to provide the valuation analysis. Property Parking Advisors engaged Integra Realty Resources to appraise 24 properties, while CBRE updated an appraisal on one property.

As of March 30, 2016, the REIT had ownership interests in 24 parking properties, which were valued at $134.1 million.

Last month, the company announced its intent to list its common shares on the NASDAQ Global Market.

MVP REIT, which invests primarily in parking assets throughout the United States, closed its initial public offering in September 2015 after raising $97.3 million from the sale of its common stock.

For more MVP REIT related news, visit their directory page here.