Sila Realty Trust Inc. Tender offer Price suggests Financial Losses for investors
Are you concerned about your investment in Sila Realty Trust Inc. (formerly known as Carter Validus Mission Critical REIT II)? If so, the securities attorneys at the White Law Group may be able to help you.
The White Law Group has handled numerous cases representing investors who invested in high-risk non-traded REITs like Sila Realty Trust at the recommendation of their financial advisor.
Sila Realty Trust Inc. (fka Carter Validus Mission Critical REIT II) a non-traded, publicly registered REIT, invests in data centers and healthcare facilities, according to its website. The company changed its name on September 30, 2020.
According to a Letter to Stockholders on March 7, the Board recommended they reject an unsolicited tender offer by CMG Partners and its affiliates, CMG Income Fund II LLC, CMG Liquidity Fund LLC and Blue River Capital LLC.
CMG is offering to purchase up to 500,000 Class A shares for $4.15 each, close to 50 percent less than the REIT’s most recent net asset value (NAV) per share of $8.20, announced in July 2021. CMG’s offer expires on April 13, 2022, unless extended.
After Carter Validus Mission Critical REIT Inc. (CVMC REIT I) and CV REIT II merged in December 2019, they reportedly approved an estimated net asset value of $8.65 per share, calculated as of October 31, 2019.
The NAV was negatively impacted by transaction costs from the company’s debt payoff and other merger-related costs ($0.37), distributions in excess of earnings ($0.08), and a change in the value of interest rate swaps ($0.08), according to filings with the SEC.
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://whitesecuritieslaw.com/sila-realty-trust/)