Comrit Investments 1 LP has launched a new unsolicited tender offer for shares of Moody National REIT II Inc., a non-traded real estate investment trust that invest in hospitality assets.
As The DI Wire previously reported, Comrit made a separate offer in August 2023. The prior proposal included Comrit offering to purchase up to 675,000 shares of Class A common stock and up to 25,000 shares of Class T common stock of the company at a price of $10.86 per share.
Comrit is currently offering to purchase up to 234,291 shares of Class A common stock and up to 25,000 shares of Class T common stock of the company at a price of $11.57 per share.
Moody National REIT II announced an estimated net asset value per share of $19.45 as of March 24, 2023.
Shares of Moody National REIT II most recently traded on LODAS Markets, previously known as Realto, for $6.60.
Comrit says the offers expire on Nov. 17, 2023.
Moody National Companies is a full-service commercial real estate company that includes mortgage, development, management, realty, title and insurance divisions. Founded in 1996, Moody National Companies has managed more than $2.2 billion in commercial real estate.