PHOENIX—Cole Capital, the private capital management business of Cole Real Estate Investments, Inc., announced the acquisition of five single-tenant corporate properties by Cole Corporate Income Trust, Inc. (CCIT). The combined price of the acquisitions was approximately $202.1 million and included facilities in San Jose, Colorado Springs, St. Louis and Houston.
"These latest acquisitions are consistent with CCIT's strategy of securing mission-critical properties nationwide that are essential for corporate operations," said Thomas W. Roberts, executive vice president and head of real estate investments at Cole Real Estate Investments, Inc. "These 'necessity' properties boast credit-quality tenants, long-term leases, valuable rent increases and varied industries, while providing geographic diversification to the expanding CCIT portfolio."
With these recent transactions, CCIT's real estate portfolio currently consists of 63 wholly owned properties located in 25 states, totaling approximately 11.6 million square feet and with an aggregate purchase price of approximately $1.7 billion. As of November 22, 2013, CCIT had received approximately $1.9 billion in gross offering proceeds through the issuance of approximately 192.4 million shares of its common stock (including shares issued pursuant to its distribution reinvestment plan).
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