MVP REIT http://mvpreit.com Fri, 19 Dec 2014 07:30:03 +0000 en-US hourly 1 MVP REIT Acquires 7-Story, 775-Space Parking Garage in Downtown Cincinnati for $15 million http://mvpreit.com/mvp-reit-acquires-7-story-775-space-parking-garage-downtown-cincinnati-15-million/ http://mvpreit.com/mvp-reit-acquires-7-story-775-space-parking-garage-downtown-cincinnati-15-million/#comments Thu, 11 Dec 2014 16:34:18 +0000 http://mvpreit.com/?p=1176 San Diego, Calif. (Dec. 11, 2014) – MVP REIT, Inc. announced today that the company acquired a 70.01 percent tenant-in-common interest in Tower Place Parking Garage, a seven-story, 775-space parking garage located in downtown Cincinnati. The parking garage was purchased …

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San Diego, Calif. (Dec. 11, 2014) – MVP REIT, Inc. announced today that the company acquired a 70.01 percent tenant-in-common interest in Tower Place Parking Garage, a seven-story, 775-space parking garage located in downtown Cincinnati. The parking garage was purchased for an aggregate of $15 million and closed on December 9.

Located at 400 Race St., the parking garage is connected to a 13-story, 520,000-square-foot mixed-use development encompassing a Hyatt Regency Hotel and retail stores. The garage is a short walk from Paul Brown Stadium, home of the National Football League’s Cincinnati Bengals, and Great American Ball Park, home of Major League Baseball’s Cincinnati Reds.

MVP REIT acquired the garage with a recently signed 10-year lease in place with SP+, formerly known as Standard Parking. The Standard Parking and Central Parking brands of SP+ operate approximately 4,200 parking facilities with more than 2.1 million parking spaces in hundreds of cities across North America, including parking-related and shuttle bus operations serving more than 75 airports.

“This garage benefits from its premium location in a well-visited area near major attractions, as well as its long-term net lease to a quality operator,” said Mike Shustek, chairman and chief executive officer of MVP REIT.

The acquisition was financed through a 4.25 percent fixed-rate, 10-year loan of $9 million.

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FORM 8-K/A – September 12, 2014 http://mvpreit.com/form-8-ka-september-12-2014/ http://mvpreit.com/form-8-ka-september-12-2014/#comments Fri, 12 Sep 2014 16:44:40 +0000 http://mvpreit.com/?p=1073 Entry into a Material Definitive Agreement

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Entry into a Material Definitive Agreement

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FORM 8-K/A – August 29, 2014 http://mvpreit.com/form-8-ka-august-29-2014/ http://mvpreit.com/form-8-ka-august-29-2014/#comments Fri, 29 Aug 2014 16:43:03 +0000 http://mvpreit.com/?p=1071 Completion of Acquisition or Disposition of Assets

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Completion of Acquisition or Disposition of Assets

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FORM 8-K/A – August 20, 2014 http://mvpreit.com/form-8-ka-august-20-2014/ http://mvpreit.com/form-8-ka-august-20-2014/#comments Mon, 25 Aug 2014 21:19:52 +0000 http://mvpreit.com/?p=1049 Regulation FD Disclosure. Source

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Regulation FD Disclosure.


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FORM 8-K/A – August 06, 2014 http://mvpreit.com/form-8-ka-august-06-2014/ http://mvpreit.com/form-8-ka-august-06-2014/#comments Wed, 06 Aug 2014 18:44:59 +0000 http://mvpreit.com/?p=1029 Completion of Acquisition or Disposition of Assets. Source

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Completion of Acquisition or Disposition of Assets.

Source

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FORM 8-K/A – July 16, 2014 http://mvpreit.com/form-8-ka-july-16-2014/ http://mvpreit.com/form-8-ka-july-16-2014/#comments Wed, 16 Jul 2014 18:43:53 +0000 http://mvpreit.com/?p=1027 Financial Statements and Exhibits. Source

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Financial Statements and Exhibits.


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Steven Reed Joins MVP REIT as President http://mvpreit.com/steven-reed-joins-mvp-reit-president/ http://mvpreit.com/steven-reed-joins-mvp-reit-president/#comments Tue, 27 May 2014 15:53:43 +0000 http://mvpreit.com/?p=851 LAS VEGAS (May 28, 2014) – MVP REIT Inc. announced today Steven Reed has joined the company as president. He will also serve as president of MVP Realty Advisors LLC and MVP American Securities LLC, the REIT’s advisor and affiliated …

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LAS VEGAS (May 28, 2014) – MVP REIT Inc. announced today Steven Reed has joined the company as president. He will also serve as president of MVP Realty Advisors LLC and MVP American Securities LLC, the REIT’s advisor and affiliated broker-dealer, respectively.

Reed’s responsibilities include managing the company’s securities operations, marketing, sales and accounts.

“Steve is a very talented and driven professional who I couldn’t be happier to have join our team,” said Mike Shustek, chairman and chief executive officer of MVP REIT. “He is well-respected among peers in the alternative investment industry and has maintained an excellent track record over the course of his career.”

Prior to joining MVP, Reed was product manager of ARC Realty Finance Trust, responsible for sales, marketing and operations. Previously, he spent three years with NorthStar Realty Securities as divisional vice president. From 2003 to 2010, Reed was senior regional vice president of Dividend Capital Securities. He also spent eight years at Scudder Investments.

Reed earned a bachelor’s degree in aeronautical science from Embry-Riddle Aeronautical University and a master’s in system management from the University of Southern California. He holds FINRA licenses Series 7, 24, 53, 63 and 65.

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Roland Quast Joins MVP Realty Advisors as Senior Executive Vice President http://mvpreit.com/roland-quast-joins-mvp-realty-advisors-senior-executive-vice-president/ http://mvpreit.com/roland-quast-joins-mvp-realty-advisors-senior-executive-vice-president/#comments Thu, 22 May 2014 22:11:28 +0000 http://mvpreit.com/?p=847 LAS VEGAS (May 22, 2014) – MVP REIT Inc. announced today Roland O. Quast has joined the company as senior executive vice president. He will also serve as senior executive vice president of MVP Realty Advisors LLC and MVP American …

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LAS VEGAS (May 22, 2014) – MVP REIT Inc. announced today Roland O. Quast has joined the company as senior executive vice president. He will also serve as senior executive vice president of MVP Realty Advisors LLC and MVP American Securities LLC, the REIT’s advisor and affiliated broker-dealer, respectively.

Quast is involved in developing and supporting retail distribution opportunities for MVP REIT and other alternative investment programs.

“With more than two decades of experience, Roland is a mainstay in the alternative investment industry with well-established relationships with a wide range of independent broker-dealers, regional wirehouse broker-dealers and banks,” said Mike Shustek, chairman and chief executive officer of MVP REIT. “I’m pleased to welcome him to the MVP team.”

Quast joins MVP REIT after spending two years as vice president of national accounts with Behringer Securities L.P., where he helped maintain and expand broker-dealer relationships as the company launched new alternative investment programs. Previously, he spent two years as senior vice president and director of strategic accounts for NRF Capital Markets. While there he was responsible for launching the retail sales program and developing the broker-dealer sales channel for NorthStar Realty Finance Corporations, a real estate finance company focusing on originating and acquiring real estate debt, real estate securities and net lease properties. Quast also spent six years with Dividend Capital Securities as vice president of national accounts, responsible for retail securities sales and the management of national broker-dealer accounts. Beginning his career in 1990, he has held positions in account services management with Invesco Funds Group, Invesco Retirement Plan Services, Institutional Trust Company and Waddell & Reed Financial Services.

Quast earned dual bachelor’s degrees in finance and economics from the University of Minnesota. He holds FINRA licenses Series 7, 24 and 63.

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MVP REIT Signs On To DST’s Low-Cost IRA Platform http://mvpreit.com/leading-reit-provider-joins-first-trust/ http://mvpreit.com/leading-reit-provider-joins-first-trust/#comments Mon, 19 May 2014 18:11:09 +0000 http://mvpreit.com/?p=841 KANSAS CITY, Mo., May 19, 2014 /PRNewswire/ — DST, a global provider of strategically unified business processing, customer communications, and data management solutions, today announced that First Trust Retirement, the premier low-cost leader for self-directed IRA’s specializing in alternative investment …

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KANSAS CITY, Mo., May 19, 2014 /PRNewswire/ — DST, a global provider of strategically unified business processing, customer communications, and data management solutions, today announced that First Trust Retirement, the premier low-cost leader for self-directed IRA’s specializing in alternative investment holdings, has added another of the nation’s leading real estate investment trust sponsors to its provider lineup.

Financial advisors now have access to San Diego-based MVP REIT, Inc., a publicly registered, non-traded REIT hybrid, through First Trust Retirement’s IRA, Roth IRA, and Simplified Employee Pension Plan (SEP) accounts.

With the additions, the First Trust lineup now includes more than 20 product sponsors offering select alternative investments not typically available through mutual fund and brokerage-offered IRAs, including non-traded REITs and Business Development Companies.

“We’re pleased to see a product manufacturer like MVP REIT join the First Trust lineup,” says Larry Kiefer, Vice President of Business Development at DST. “It’s a win for everyone involved…advisors gain access to a wide variety of investment options and the sponsors are able to round out their product offerings on DST’s platform.”

First Trust Retirement — a unique solution powered by DST’s industry-leading shareholder servicing technology — streamlines the process for advisors offering alternative investments to their self-directed IRA clients. Annual custodial fees start as low as $25, and account setup is up to three times faster than other custodial providers.

“Financial advisors are looking for products that generate absolute return with lower volatility, and First Trust enables them to spend less time, less effort, and less cost finding alternative investments for their clients’ IRAs,” says Kiefer.

DST, well known as the largest third-party provider of investor recordkeeping services in the U.S., is also the leading provider of alternative fund solutions to the mass distribution retail market. With a scalable service model that can be tailored to the exact set of services an alternatives business requires, DST is currently servicing over 2.0 million alternative accounts.

For more information on First Trust Retirement or DST Alternative Fund Solutions, contact Robyn Holloway at 646-417-3120 or through e-mail at rlholloway@dstsystems.com .

About DST DST Systems, Inc. is a leading provider of sophisticated information processing and servicing solutions to companies around the world. Through its global enterprise, DST delivers strategically unified transactions and business processing, data management, and customer communications solutions to the asset management, brokerage, retirement, and healthcare markets. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange. For more information, visit www.dstsystems.com .

About First Trust Retirement First Trust Retirement is the premier IRA custodian choice of alternative investment product sponsors. First Trust Retirement combines the transfer agency servicing solutions of DST Systems Inc., with an IRA custodial offering. With First Trust Retirement, clients have the flexibility to select an alternative investment for their self-directed IRAs that is not typically available through mutual fund and brokerage offered IRAs.

Contact: Laura M. Parsons DST Global Public Relations
816.843.9087
mediarelations@dstsystems.com

Logo – http://photos.prnewswire.com/prnh/20131023/CG03088LOGO

SOURCE DST Systems, Inc.

Copyright (C) 2014 PR Newswire. All rights reserved

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MVP REIT Completes the Final of Six Office Building Acquisitions in Las Vegas Office Park http://mvpreit.com/mvp-reit-completes-las-vegas-office-park/ http://mvpreit.com/mvp-reit-completes-las-vegas-office-park/#comments Tue, 26 Nov 2013 17:34:50 +0000 http://mvpreit.com/?p=695 LAS VEGAS (Nov. 26, 2013) – MVP REIT, Inc. announced today it has completed the final of six commercial office building acquisitions located within a Las Vegas office park. The 22,000-square-foot office building was purchased for $6.1 million and closed …

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LAS VEGAS (Nov. 26, 2013) – MVP REIT, Inc. announced today it has completed the final of six commercial office building acquisitions located within a Las Vegas office park. The 22,000-square-foot office building was purchased for $6.1 million and closed on Nov. 20. The six buildings were purchased in total for $55.1 million.

Built in 2008, the two-story building is located at 8945 W. Post Road, and is situated directly off Interstate 215, in close proximity to McCarran International Airport and the Las Vegas Strip. The property is 89 percent leased to a mix of professional tenants, all subject to triple net leases under which the tenant is responsible for the majority of the costs associated with maintaining the building.

“We are pleased to complete this final acquisition and add six high-quality office buildings to our portfolio,” said Mike Shustek, chairman and chief executive officer of MVP REIT. “The addition of these properties adds greater diversification to our growing portfolio with well-located, multi-story commercial office buildings that enjoy a mix of tenants primarily under triple net leases.”

MVP REIT financed the acquisition through the assumption of approximately $3.2 million in existing debt and the transfer of approximately 323,024 shares of the company’s common stock at $8.775 per share of which approximately 11,400 shares were held back until such time as certain additional conditions are met.

In total, the six acquired properties include both two- and three-story steel/concrete office buildings, all constructed over the past 10 years as part of a planned 16-acre office park. Each multi-tenant building was acquired with an occupancy rate of at least 89 percent, and contains a mixture of professional tenants under triple net leases. The buildings are located directly off Interstate 215 in the southwest region of Las Vegas, Nev.

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