8-K 1 mvpreit0203168k.htm MVP REIT, INC. FEBRUARY 3, 2016 8K mvpreit0203168k.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 1, 2016
Company Logo
MVP REIT, INC.
(Exact name of registrant as specified in its charter)


Maryland
333-180741
45-4963335
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)


12730 HIGH BLUFF DRIVE, SUITE 110
SAN DIEGO, CA  92130
(Address of principal executive offices)
(Zip Code)


Registrant’s telephone number, including area code: (702) 534-5577

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 
 
Item 2.01 Completion of Acquisition or Disposition of Assets.
 
MVP REIT, Inc., (“MVP”) through its wholly owned entity, MVP Milwaukee Arena Lot, LLC, a Delaware limited liability company, announced that it has closed on the purchase of a parking lot for approximately $3.9 million in cash.   The parking lot is located at 1124 N. Old World Third Street, Milwaukee, Wisconsin (the “Property”).   The parking lot consists of 38,606.50 square feet and has 75 parking spaces.
 
The parking lot is leased by SP Plus Corporation (“SP Plus”), a national parking operator.  SP Plus will pay a first year annual lease payment of $200,000 with annual increases and will pay all regular occurring maintenance expenses associated with the parking garage other than property taxes.  In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $325,000. The term of the lease is 5 years.

 
 
 

 


SIGNATURE
 

 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
Dated: February 4, 2016
 

MVP REIT, INC.
 
By: __/s/ Tracee Gress_______________
 
Tracee Gress
Chief Financial Officer