Home News Carter Validus Mission Critical REIT II Increases Distributions

Carter Validus Mission Critical REIT II Increases Distributions

The board of directors of Carter Validus Mission Critical REIT II, a publicly registered non-traded real estate investment trust, approved and authorized additional daily distributions for Class A, Class I, and Class T stockholders commencing on October 1, 2017 and ending November 30, 2017.

For Class A shares, the board approved an additional annualized distribution of approximately $0.008 per share. This additional distribution amount and the previously authorized distribution of $0.645 per share will equal an annualized rate of 6.40 percent, based on the recently revised primary offering purchase price of $10.20 per Class A share. The new distribution rate equals approximately 6.53 percent for Class A shares originally purchased at $10.00 each.

For Class I shares, an additional annualized distribution of approximately $0.008 per share was approved by the board. Combined with the original distribution of $0.645 per share, the total distribution will equal an annualized rate of 7.04 percent, based on the revised primary offering purchase price of $9.27 per Class I share. The new distribution rate equals approximately 7.13 percent for Class I shares originally purchased at $9.16 each.

For Class T shares, an additional annualized distribution of approximately $0.007 per share was approved by the board. Combined with the original distribution of $0.548 per share, the total distribution will equal an annualized rate of 5.68 percent, based on the revised primary offering purchase price of $9.77 per Class T share. The new distribution rate equals approximately 5.75 percent for Class T shares originally purchased at $9.65 each.

Carter Validus Mission Critical REIT II recently updated its estimated per share net asset value to $9.18 for Class A, Class I, and Class T shares of common stock, as of June 30, 2017. The company’s previous NAV per share was $9.07, which was the first declared by the company in October 2016.

The distributions for each record date in October 2017 and November 2017 will be paid in November 2017 and December 2017, respectively.

Carter Validus Mission Critical REIT II, which invests in net leased data center and healthcare assets, went effective in May 2014 and has raised more than $1 billion in investor equity since inception. The REIT’s portfolio is comprised of 63 properties (20 data center and 43 healthcare properties) that were purchased for approximately $1.4 billion. The company’s offering is scheduled to close on November 24, 2017.

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