Skip to content

Cole REITs to Disclose NAV in April

Cole Office & Industrial REIT (CCIT II) and Cole Credit Property Trust V Inc., two publicly-registered non-traded REITs sponsored by Cole Capital, each engaged independent valuation firms to determine the net asset values for their shares of common stock.

The new valuations will be available in early April to coincide with FINRA’s regulatory notice 15-02 that will take effect on April 11, 2016.

Cole Office & Industrial REIT, which was slated to announce a new NAV in June, hired Cushman & Wakefield of Illinois Inc., Valuation & Advisory group to assist in the process.

Cole Credit Property Trust V Inc., which previously disclosed that it would announce its NAV in August, engaged Duff & Phelps LLC, an independent global valuation advisory and corporate finance consulting firm that specializes in providing real estate valuation services.

Both valuations will be based upon the estimated market value of the REITs’ assets, less the estimated market value of its liabilities, divided by the total shares of its common stock outstanding, and will be performed in accordance with the valuation guidelines established by the Investment Program Association.

The estimated per share NAV will ultimately be the decision of the boards of directors.

In other Cole Capital news, The DI Wire reported last week that the company intends to launch a $3.5 billion real estate investment trust, Cole Office & Industrial REIT III.

Cole Office & Industrial REIT invests primarily in single-tenant, income-producing, necessity office and industrial properties that are leased to creditworthy tenants under long-term leases. Cole Capital defines necessity corporate properties as those that are essential to the day-to-day operations of a corporation’s operations. Necessity corporate properties include distribution facilities, warehouses and corporate and regional headquarters.

Cole Credit Property Trust V invests primarily in income-producing necessity retail properties that are single-tenant properties or multi-tenant “power centers” subject to long-term leases with national or regional creditworthy tenants. Necessity retail properties provide goods and services needed on a daily basis, including power centers with multiple anchors or grocery-anchored centers.


For more Cole related news, visit their Directory Listing here.