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CMG Partners, Inc. Makes Unsolicited Tender Offer for Cole Office & Industrial REIT Shares

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CMG Partners, Inc. made an unsolicited tender offer to purchase Cole Office & Industrial REIT, Inc.’s common stock at a significantly reduced price from its current NAV.

CMG Partners, Inc. made an unsolicited mini-tender offer to purchase up to 275,000 Class A shares of Cole Office & Industrial REIT, Inc.’s common stock for $7.51 per share on November 18, 2018. The offer represents a significantly reduced price from its current NAV of $10.58.

Cole Office & Industrial REIT, Inc.’s board of directors strongly recommends that its shareholders reject the unsolicited offer and not tender their shares.

After the board of directors evaluated CMG Partners’ offer, they want shareholders to be aware the unsolicited offer is not based on Cole Office & Industrial REIT’s actual value, but a strategy to buy shares at a significant discount in anticipation of making a substantial profit.

In fact, according to the board, shareholders would earn more by seeking Cole Office & Industrial REIT’s share redemption program as shares are repurchased at between 97.5 percent to 100 percent of the most recent estimated NAV, depending on how long shareholders have held their shares.

CMG Partner’s tender offer expires December 21, 2018, though this date may be extended at its sole discretion. Therefore, there is no guarantee that tendering shareholders will be paid in full or in a timely manner without the oversight of an independent third-party to hold the shares in escrow.

Those who tender Cole Office & Industrial REIT’s shares will also forgo future distributions. Thus far, it has paid 58 consecutive monthly distributions to shareholders which have averaged an annualized yield of 5.95% per share.

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