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9/05/13
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MVP REIT Inc acquired a 47.5k sf, multi-tenant office building in Las Vegas for $15 mil ($315/sf). The acquisition is part of a five-property, $48.6 mil portfolio being acquired by MVP REIT. The acquisition closed on Aug. 30, 2013.
Situated on 3.2 acres of land at 8880 W. Sunset Rd, the three-story building is 100 percent occupied by a mix of medical and professional tenants, including the corporate headquarters for MVP REIT, which occupies 4.2k sf. All tenant contracts are under triple net leases. The property is situated directly off I-215, in close proximity to McCarran International Airport and the Las Vegas Strip.
MVP REIT financed the acquisition through the assumption of approximately $10.2 mil in existing debt and the transfer of approximately 547,368 shares of the company's common stock at $8.775 per share.
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