Carey Watermark Investors 2 Declares $10.53 NAV, Adjusts Share Prices

Carey Watermark Investors 2 Inc., a publicly registered non-traded real estate investment trust sponsored by WP Carey (NYSE: WPC), announced that its board of directors determined an estimated per share value of $10.53 for the company’s common stock, as of December 31, 2015.

The NAV was calculated by Carey Lodging Advisors, the REIT’s advisor, relying partially on a portfolio appraisal by PKF Consulting USA | CBRE Hotels and mortgage debt valuation estimates by Robert A. Stanger & Co.

Based on the new NAV, Carey Watermark Investors 2 adjusted the offering prices of its Class A, Class T shares, and DRIP shares.

Class A shares are now priced at $11.70 per share, with a 7 percent ($0.82) selling commission and a 3 percent ($0.35) dealer manager fee.

Class T shares are priced at $11.17 per share with a 2 percent ($0.22) selling commission and a 3.75 percent ($0.42) dealer manager fee. Class T shareholders will also pay approximately 0.0025 multiplied by the per share NAV per quarter.

Class A and class T DRIP shares are priced at $10.53 each.

Carey Watermark Investors 2 focuses on acquiring lodging and lodging-related properties. The initial public offering of $1.4 billion shares of common stock and $600 million DRIP shares broke escrow in May 2015. Since inception, the REIT has raised a total of $247.1 million in investor equity, including DRIP shares. The company owns interest in five hotels with a total of 1,970 rooms.