PHOENIX-Cole Real Estate Investments has been added to the MSCI US REIT Index. The addition to the index comes only two weeks after being listed on the NYSE.
The MCSI US REIT Index consists of equity REITs that are included in the MSCI US Investable Market 2500 Index, except for specialty equity REITs that do not generate a majority of their revenue and income from real estate rental and leasing operations. The companies represented on the REIT Index represent approximately 85% of the U.S. REIT universe. With the Cole in the mix, the index how includes 126 REITs.
As of March 31, 2013, Cole Real Estate Investments owned $7.7 billion of gross assets, which included 1,013 properties representing approximately 43 million square feet of commercial real estate in 48 states. Its portfolio features a 12.4 year weighted average lease term, 99% occupancy and 55% investment grade tenancy. Tenants in the net lease portfolio include Walgreens, CVS/pharmacy, Amazon.com, Walmart, Target, Costco, Home Depot, FedEx, PetSmart, AT&T, Kohl's and Merrill Lynch.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
