The board of Cole Office & Industrial REIT (CCIT III), a publicly registered non-traded real estate investment trust, has extended the close date of the company’s initial primary offering until September 22, 2019.
The company previously disclosed that it would offer shares of common stock until September 22, 2018, unless extended by its board of directors. The board may further extend the offering in the future; however, they will not extend it beyond March 20, 2020.
Cole Office and Industrial REIT commenced operations in September 2016 and invests primarily in single-tenant office and industrial properties that are leased to creditworthy tenants under long-term, net leases. As of August 6, 2018, the company had raised $28.4 million in investor equity and oversees a portfolio comprised of two properties purchased for $49.2 million.