Cole Real Estate Investments to Raise $3.5 Billion in Each of Two IPOs of Single Tenant REITs

Business Wire - September 23, 2010

Cole Real Estate Investments, a sponsor of non-traded REITs, announced today the filing of two registration statements with the Securities and Exchange Commission: one for Cole Advisor Retail Income REIT, Inc. and the other for Cole Advisor Corporate Income REIT, Inc. The announcement was made by Marc Nemer, President of Cole Real Estate Investments.

Cole Advisor Retail Income REIT and Cole Advisor Corporate Income REIT are newly organized corporations formed to invest primarily in single-tenant, income producing commercial properties, which are leased to creditworthy tenants under long-term net leases. Cole Advisor Retail Income REIT will focus primarily on necessity retail tenants, while Cole Advisor Corporate Income REIT will focus on mission critical office and industrial properties.

Each of the companies intends to distribute shares principally through registered investment advisors and broker/dealers that charge their clients a fee for their services. These accounts are typically referred to as wrap accounts or fee-based accounts.

The common shares of each company is expected to be offered on a continuous basis and for an indefinite period of time, subject to regulatory approvals, with an initial offering for each company of up to $3,500,000,000. After an initial escrow period, the purchase price for each company’s stock will vary from day to day and, on any given day, will be equal to that company’s net asset value, or NAV, divided by the number of common shares outstanding for that company, as of the end of business on each day (NAV per share). The calculation of each company’s NAV will be based principally on the market value of the company’s real estate portfolio, as determined by an independent valuation expert. Each of the companies also expects to offer their shareholders the opportunity to redeem all or any portion of their shares, on a daily basis, at the company’s NAV per share, determined as of the end of the day of the request. The offerings are not contingent on each other. Sphere: Related Content