MVP REIT, Inc. entered into an agreement to acquire remaining interest in Lauderdale facility, Memphis Court, St. Louis facilities and Red Mountain facility from Vestin Realty Mortgage II, Inc. (NasdaqGS:VRTB) and Vestin Realty Mortgage I, Inc (NasdaqGM:VRTA) for $14 million on March 20, 2014. Under the terms of transaction, Vestin Realty Mortgage II and Vestin Realty Mortgage I will collectively transfer to MVP their 68% interest in a Ft. Lauderdale Parking Facility, 95% interest in the Memphis Court, Memphis Poplar, Kansas City and St. Louis Parking Facilities and 49% interest in the Red Mountain Storage Facility. Vestin Realty Mortgage II and Vestin Realty Mortgage I will receive from MVP its entire interest in four office buildings located at 8860 West Sunset Road, Las Vegas, Nevada, 8905 Post Road, Las Vegas, Nevada, 8925 Post Road, Las Vegas, Nevada and 8945 Post Road, Las Vegas, Nevada.

The aggregate purchase price for is approximately $14 million and the related indebtedness is approximately $5 million. In addition, MVP is obligated to pay VRTA and VRTB approximately $0.5 million as contractual return on the properties. The aggregate purchase price for MVP's interests in 8860 West Sunset Road, 8905 Post Road, 8925 Post Road, and 8945 Post Road is $25 million and the related indebtedness is approximately $14 million, resulting in a net value for purposes of the exchange of approximately $11 million. In light of the difference between the net value to be received by Vestin Realty Mortgage II and Vestin Realty Mortgage I and the net value transferred by Vestin Realty Mortgage II and Vestin Realty Mortgage I, Vestin Realty Mortgage II and Vestin Realty Mortgage I will pay MVP approximately $1.4 million. MVP will assume all indebtedness incurred by Vestin Realty Mortgage II and Vestin Realty Mortgage I in connection with the acquisition of interests in the properties.

In addition, pursuant to its agreement, MVP will pay to Vestin Realty Mortgage II and Vestin Realty Mortgage I an amount equal to their respective investments in the properties plus a 7.5% annual cumulative return less any distributions received by Vestin Realty Mortgage II and Vestin Realty Mortgage I. The transaction was approved by Board of Directors of VRTA Vestin Realty Mortgage I. The transaction is expected to close in the next thirty days.

MVP REIT, Inc. completed the acquisition of remaining interest in Lauderdale facility, Memphis Court, St. Louis facilities and Red Mountain facility from Vestin Realty Mortgage II, Inc. (NasdaqGS:VRTB) and Vestin Realty Mortgage I, Inc (NasdaqGM:VRTA) on April 30, 2014.