{"id":5930,"date":"2018-05-08T16:06:56","date_gmt":"2018-05-08T20:06:56","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=5930"},"modified":"2018-05-08T16:06:56","modified_gmt":"2018-05-08T20:06:56","slug":"mvp-reit-the-parking-reit-losses","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/mvp-reit-the-parking-reit-losses\/","title":{"rendered":"MVP REIT\/The Parking REIT Losses"},"content":{"rendered":"

The Parking REIT recently announced that the board unanimously approved the suspension of all cash distributions and stock dividends, effective March 22, 2018.\u00a0 Their press release states<\/a>, \u201dThe Board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain compliance with debt covenants, including minimum liquidity covenants\u2026\u201d<\/em><\/p>\n

Additionally, it has notified the SEC that the company will not be able to make its 10-K filling on time.<\/p>\n

This company, the product of a recent merger between two REITs, (real estate investment trust) is a publicly registered, non-traded entity that focuses on a specific type of real estate. In this case, the focus is parking lots and parking-related facilities. The merger between MVP REIT and MVP REIT II was finalized in late 2017. The company is now known as \u201cThe Parking REIT,\u201d and is based in Las Vegas, NV. (A REIT is required to pay out 90% of its income in order to avoid corporate income tax.)The company has a portfolio with 44 parking facilities across 15 states.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Parking REIT recently announced that the board unanimously approved the suspension of all cash distributions and stock dividends, effective March 22, 2018.\u00a0 Their press release states, \u201dThe Board is focused on preserving capital in order to maintain sufficient liquidity to continue to operate the business and maintain compliance with debt covenants, including minimum liquidity […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[594],"tags":[814,171,771],"class_list":["post-5930","post","type-post","status-publish","format-standard","hentry","category-real-estate-investment-trusts","tag-centaurus-financial-group","tag-non-traded-reits","tag-the-parking-reit"],"yoast_head":"\nMVP REIT\/The Parking REIT Losses — Securities Arbitration Lawyers Blog — May 8, 2018<\/title>\n<meta name=\"description\" content=\"The Parking REIT recently 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