Located in the heart of Cincinnati, the Tower Place parking garage is a newly renovated 7-story, 775-space facility directly adjacent to a 13-story, 520,000 square-foot tower, connected to a 561-room Hilton Hotel, and also across from a 491-room Hyatt Regency Hotel. The facility has a long-term, net lease in place with SP Plus Corporation (NASDAQ: SP), a Chicago company that owns Standard and Central Parking.
Acquisition of Property
|Address||400 Race Street
Cincinnati, OH 45202
|Acquisition Date||Dec. 09, 2014|
|Purchase Price||$15 million*|
|Building Height||7 Stories|
The Tower Place garage is located in the heart of Cincinnati, near a number of notable venues and businesses. Directly south of the garage, just a few blocks away, lies the Paul Brown Stadium, home of the Cincinnati Bengals (National Football League), the Great American Ballpark, home of the Cincinnati Reds (Major League Baseball) and the U.S. Bank Arena, home of the Cincinnati Cyclones (ECHL Professional Hockey League).
In addition to its close proximity to a number of sporting venues, the garage is centrally located near the U.S. District Court Clerk, the Cincinnati Convention Center, Cincinnati City Hall, the Hilton Hotel, the Hyatt Regency Hotel and a number of other professional offices and retail centers nearby.
*MVP REIT OWNS AN APPROXIMATE 70% INTEREST IN THE CINCINNATI PARKING GARAGE.
THIS LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO FULLY UNDERSTAND ALL THE IMPLICATIONS AND RISKS OF THE OFFERING TO WHICH THE PROSPECTUS RELATES.THIS SALES AND ADVERTISING LITERATURE IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY SECURITIES. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH ANY OFFERING AND IS AVAILABLE WITHOUT CHARGE UPON WRITTEN REQUEST TO MVP REIT, INC., AT 8880 WEST SUNSET ROAD, SUITE 340, LAS VEGAS, NEVADA, 89148. THE PROSPECTUS IS ALSO AVAILABLE ON THE MVP REIT WEBSITE AT MVPREIT.COM/PROSPECTUS. PHONE INQUIRIES MAY BE DIRECTED TO (877) 684-6871. NEITHER THE SEC OR THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE OR FEDERAL REGULATOR HAS APPROVED OR DISAPPROVED OF THE MERITS OF THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS MATERIAL HAS BEEN PRECEDED BY OR IS ACCOMPANIED BY A PROSPECTUS. MVP AMERICAN SECURITIES, THE BROKER-DEALER SOLICITING MVP REIT SHARES, IS A MEMBER OF FINRA/SIPC.
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 RISKS. YOU SHOULD PURCHASE THESE SECURITIES ONLY IF YOU CAN AFFORD A COMPLETE LOSS OF YOUR INVESTMENT. SEE “RISK FACTORS” IN THE COMPANY’S PROSPECTUS TO READ ABOUT THE MORE SIGNIFICANT RISKS YOU SHOULD CONSIDER BEFORE BUYING SHARES OF OUR COMMON STOCK. THESE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING: WE HAVE NO OPERATING HISTORY AND NO SIGNIFICANT ASSETS; BECAUSE THIS IS A “BLIND POOL” OFFERING, YOU WILL NOT BE ABLE TO EVALUATE OUR INVESTMENTS PRIOR TO PURCHASING OUR SHARES; OUR BUSINESS STRATEGY INVOLVES SUBSTANTIAL RISKS 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 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 APPLY 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; DISTRIBUTIONS ARE NOT GUARANTEED.