Located in downtown Fort Worth, Texas, this parking garage encompasses 8 levels and 1,013 spaces. The garage is located across from the 14-story, Fritz G. Lanham Federal Building, dedicated to housing agencies such as the Social Security Administration, Internal Revenue Services, National Weather Service, and National Labor Relations Board.
Acquisition of Property
|Address||814 Taylor Street / 811 Lamar Street
Fort Worth, TX 76102
|Acquisition Date||Mar. 16, 2015|
|Number of Parking Spaces||1,013|
The parking garage is conveniently located near the Fort Worth Convention Center. The center covers 14 blocks of Fort Worth’s Central Business District, provides 253,226 square feet of exhibition space, as well as a 13,500 seating arena (“Convention Center,” n.d.) Additionally, the parking garage is adjacent to the Federal Courthouse.
Fort Worth, TX:
Previously, Fort Worth, TX was recognized by the U.S. Census Bureau as the most rapidly growing large city with a population of more than 500,000. Today, Fort Worth continues to be ranked among the top 10 cities with the largest population increase.
MVP REIT, INC. IS AN “EMERGING GROWTH COMPANY” UNDER THE FEDERAL SECURITIES LAWS AND WILL BE SUBJECT TO REDUCED PUBLIC COMPANY REPORTING REQUIREMENTS. INVESTING IN OUR COMMON STOCK IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK. YOU SHOULD PURCHASE THESE SECURITIES ONLY IF YOU CAN AFFORD A COMPLETE LOSS OF YOUR INVESTMENT. SEE “RISK FACTORS” FOUND IN THE COMPANY’S PROSPECTUS TO READ ABOUT SIGNIFICANT RISKS YOU SHOULD CONSIDER BEFORE BUYING SHARES OF OUR COMMON STOCK. THESE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING: WE HAVE A LIMITED OPERATING HISTORY, HAVING COMMENCED OPERATIONS IN DECEMBER 2012. ALTHOUGH WE HAVE ACQUIRED SEVERAL PROPERTIES AND IDENTIFIED OTHERS WE INTEND TO ACQUIRE, WE ARE EFFECTIVELY A “BLIND POOL” BECAUSE WE HAVE NOT IDENTIFIED, AND YOU WILL NOT BE ABLE TO EVALUATE, ANY ADDITIONAL INVESTMENTS WE WILL MAKE WITH PROCEEDS FROM THIS OFFERING. THIS IS A “BEST EFFORTS” OFFERING, AND IF WE ARE UNABLE TO RAISE SUBSTANTIAL FUNDS THEN WE MAY NOT BE ABLE TO DIVERSIFY OUR INVESTMENTS. WE DEPEND UPON OUR ADVISOR AND ITS AFFILIATES TO CONDUCT OUR OPERATIONS. OUR BUSINESS STRATEGY INVOLVES SUBSTANTIAL RISK AS MANY OF OUR INVESTMENTS ARE EXPECTED TO BE IN REAL ESTATE MARKETS THAT HAVE SUFFERED SIGNIFICANT DECLINES IN VALUES OVER THE LAST SEVERAL YEARS AND WE MAY SEEK TO ACQUIRE LOANS MADE TO HIGHER RISK BORROWERS. THERE IS NO PUBLIC TRADING MARKET FOR OUR SHARES AND WE ARE NOT REQUIRED TO LIST OR LIQUIDATE BY A CERTAIN DATE OR AT ALL. ACCORDINGLY, OUR SHARES WILL LACK LIQUIDITY AND YOU MAY HAVE TO HOLD THE INVESTMENT INDEFINITELY. THERE ARE RESTRICTIONS ON YOUR ABILITY TO HAVE YOUR SHARES REPURCHASED UNDER OUR SHARE REPURCHASE PROGRAM. THERE ARE SUBSTANTIAL CONFLICTS OF INTEREST BETWEEN US AND OUR ADVISOR AND ITS AFFILIATES. WE MAY NOT BE ABLE TO MAKE DISTRIBUTIONS ON A MONTHLY BASIS. WE CURRENTLY PAY DISTRIBUTIONS FROM SOURCES OTHER THAN CASH FLOW FROM OPERATIONS AND MAY CONTINUE TO PAY FROM SOURCES OTHER THAN CASH FLOW FROM OPERATIONS, WHICH INCLUDES THE SALE OF ASSETS, BORROWINGS OR OFFERING PROCEEDS. WE HAVE NO LIMITS ON THE AMOUNTS WE MAY PAY FROM SUCH SOURCES. IF WE PAY DISTRIBUTIONS FROM SOURCES OTHER THAN OUR CASH FLOW FROM OPERATIONS, THE FUNDS AVAILABLE TO US FOR INVESTMENTS WOULD BE REDUCED AND YOUR SHARE VALUE MAY BE DILUTED. WE MAY INCUR SUBSTANTIAL DEBT, WHICH WILL INCREASE OUR RISK AND MAY REDUCE OUR DISTRIBUTIONS. FAILURE TO QUALIFY AS A REIT WOULD ADVERSELY AFFECT OUR ABILITY TO MAKE DISTRIBUTIONS TO OUR STOCKHOLDERS. OUR ADVISOR AND BOARD OF DIRECTORS WILL HAVE SUBSTANTIAL DISCRETION WITH RESPECT TO THE SELECTION OF SPECIFIC REAL PROPERTY AND MAY VARY FROM MVP REIT GUIDELINES TO ACQUIRE PROPERTIES WHICH THEY BELIEVE REPRESENT VALUE OPPORTUNITIES. AS WITH ALL INVESTMENTS IN SECURITIES, THERE IS RISK OF LOSS OF CAPITAL. THIS IS NOT A SOLICITATION. PLEASE READ MVP’S PROSPECTUS WHICH IS THE ONLY MEANS OF SOLICITING FOR SHARES OF MVP REIT.