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): September 3 , 2015
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 1.01 Enter into Material Definitive Agreement.
MVP REIT, Inc., (“MVP”) through its wholly owned entity, MVP South Loop, LLC, an Illinois limited liability company, announced that it has entered into a purchase agreement dated September 3, 2015 to purchase a parking garage for approximately $34 million in cash and debt assumption. The REIT plans to assume an existing note of approximately $16,100,000.
The parking garage is located at 801 South State Street, Chicago, IL 60605 (the “garage”). The garage consists of approximately 317 parking spaces and contains approximately 63,000 square feet of retail.
MVP anticipates entering into a lease with a parking operator.
The Purchase Agreement is subject to MVP’s due diligence. It is anticipated that the purchase will close by the end of 2015, however, there can be no assurance when and if this acquisition will be completed.
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: September 3, 2015
MVP REIT, INC.
By: __/s/ Tracee Gress_______________
Tracee Gress
Chief Financial Officer