MVP REIT, Inc. and MVP REIT II, Inc. (the “REITs”), both publicly registered non-traded real estate investment trusts, entered into a credit agreement with KeyBank National Association for a $30 million revolving credit facility with accordion expansion options to increase the facility size up to $100 million. The initial term is two years and matures on October 5, 2018.

“The closing of this facility marks a milestone for the REITs,” said Michael Shustek, chairman and chief executive officer of MVP REIT, and president, chief executive officer and chairman of the board of MVP REIT II. “It will provide both companies with increased flexibility and a reduced cost of capital which should facilitate the growth of their portfolios of parking assets.”

MVP REIT is a publicly registered, non-traded hybrid real estate investment trust which completed its initial public offering in September 2015. MVP REIT primarily invests in parking facilities throughout the United States, secured by long term leases with national and regional operators. MVP REIT’s portfolio currently includes investments in 27 parking facilities with over 5,800 parking spaces.