Friday, October 7, 2016

MVP REIT and MVP REIT II Close $30 Million Credit Facility with KeyBank National Association

Michael Shustek
SAN DIEGO, CA – MVP REIT, Inc. and MVP REIT II, Inc. (the “REITs”), both publicly registered non-traded real estate investment trusts, entered into a credit agreement with KeyBank National Association for a $30 million revolving credit facility with accordion expansion options to increase the facility size up to $100 million. 

The initial term is two years and matures on October 5, 2018.

“The closing of this facility marks a milestone for the REITs,” said Michael Shustek, chairman and chief executive officer of MVP REIT, and president, chief executive officer and chairman of the board of MVP REIT II.

 “It will provide both companies with increased flexibility and a reduced cost of capital which should facilitate the growth of their portfolios of parking assets.”
 For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

No comments: