Carter Validus Ends Strategic Review; Issues NAV of $10.05

Carter Validus Mission Critical REIT Inc., a publicly registered non-traded real estate investment trust that invests in data center and healthcare assets, declared an estimated per share value of $10.05 for the company’s common stock.

“We are pleased to announce the results of the company’s net asset value valuation. The results demonstrate confirmation of our investment approach and strategy and our continued commitment to delivering shareholder value,” said John E. Carter, the REIT’s chairman and chief executive officer.

The company engaged Robert A. Stanger & Co., Inc., an independent third-party valuation firm, to calculate an estimated NAV and a fair value range of the REIT’s real estate portfolio.

The REIT’s board of directors directed its audit committee, comprised of independent directors, to review Stanger’s valuation analysis and range of estimates and recommend an estimated per share NAV to the full board. Based on the committee’s recommendation, the board adopted an estimated per share NAV of $10.05.

In other Carter Validus Mission Critical REIT news, the board of directors have concluded their process with Goldman, Sachs & Co. to explore strategic alternatives. Having announced no strategic alternative, the board has apparently determined that its best option is to remain a non-traded REIT for the foreseeable future.

Carter Validus Mission Critical REIT engages in the acquisition of quality income-producing commercial real estate, preferably with long-term net leases to investment grade and creditworthy tenants. As of September 30, 2015, the REIT owned 48 real estate investments, consisting of 79 properties located in 44 metropolitan statistical areas. The company’s data center portfolio consisted of 20 properties located across the United States and its healthcare portfolio consisted of 59 properties with a diversified focus, including medical office buildings, specialty surgical centers, and hospital properties.