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Comrit Pays $11.57 Per Share of Moody National REIT II

Comrit Pays $11.57 Per Share of Moody National REIT II. Alternative investments, investment, Moody, Moody National Companies, Moody National REIT II, real estate investment trust, REIT
Comrit Pays $11.57 Per Share of Moody National REIT II. Alternative investments, investment, Moody, Moody National Companies, Moody National REIT II, real estate investment trust, REIT

Comrit Investments 1 LP, a Tel Aviv-based investment fund, announced the results of an unsolicited tender offer for shares of Moody National REIT II Inc., a non-traded real estate investment trust that invest in hospitality assets.

In October, Comrit offered 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 offer resulted in the tender by shareholders, and acceptance for payment by Comrit, of a total of approximately 75,122 shares. Following the purchase, Comrit will own an aggregate of approximately 739,710 shares, or approximately 5.4% of the total outstanding shares.

The offer expired on Nov. 17, 2023.

As The DI Wire previously reported, Comrit made a separate offer in August 2023. The prior proposal in August 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.

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.

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