MVP REIT II Going Public

MVP REIT II, a San Diego-based company that intends to invest in parking lots across North America, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to go public. The company is offering 20 million shares of its common stock priced at $20 each, as well as another two million at $25 per share, as part of a reinvestment distribution program.

Company officials expect to become an official real estate investment trust at the beginning of next year. The primary offering will reportedly total $500 million. MVP REIT II expects the parking business to continue to perform well, due to increases in the population and the growing number of vehicles those residents will own.