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| Mike Shustek |
SAN DIEGO, CA – MVP REIT,
Inc. announced it has filed its quarterly report on Form 10-Q for the quarter
ended June 30, 2016.
For the three months ended
June 30, revenues were $2,056,000, as compared to $1,060,000 for the same
three-month period in 2015, equal to a 94 percent increase in total revenue.
For the first six months of 2016, total
revenue increased by 126 percent to $3,949,000, compared to $1,748,000 for the
first six months of 2015.
During the first six
months of 2016, MVP REIT completed eight acquisitions valued at approximately
$32 million, bringing its total investment in real estate to approximately
$113.6 million in 25 properties.
Full results for the
three- and six-month periods may be reviewed in MVP REIT’s quarterly report,
available free of charge at www.sec.gov.
“We are pleased with MVP
REIT’s results over the last six months, and are excited to see the growth in
our portfolio of properties,” said Mike
Shustek, chairman and chief executive officer of MVP REIT.
“Aggregate rental revenues
from properties we have held for more than one year also increased on a
year-over-year basis. We believe we have deployed a successful strategy for
growing revenues at our parking locations and look forward to capitalizing on
this strategy in future quarters.”
For a complete copy of the company’s news release,
please contact:
Julie Leber
Spotlight Marketing
Communications
949.427.5172, ext. 703
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