MVP REIT II Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors has authorized a 6 percent annualized distribution payment, based on a purchase price of $25 per common share. The distribution, which will be split between a 3 percent annualized distribution and a 3 percent stock dividend, is payable to stockholders of record as of January 24, 2016.
The cash distribution and stock dividend are expected to be paid by February 10, 2016.
MVP REIT II is the industry’s first “no load” REIT. It has no upfront securities load for its investors, instead, the sponsor pays a commission to financial advisors, as well as organizational and offering expenses, and there is no dealer-manager fee.
Earlier this month, The DI Wire reported that MVP REIT II fulfilled its minimum offering of $2 million in subscriptions and broke escrow.
MVP REIT II intends to invest in a portfolio of parking facilities located throughout the United States and Canada.