Home Alts News Less than two months before this non-traded REIT closes

Less than two months before this non-traded REIT closes

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Publicly registered, non-traded REIT, Cole Credit Property Trust IV, Inc (CCPT IV) is scheduled to close February 28, 2014. The REIT invests in income-producing commercial real estate that is primarily leased to credit-worthy tenants under long-term, net leases. The offering size is $2.5 billion with a current offering price of $10.00 per share.

On December 3, 2013, Cole Capital Corporation (CCPT IV’s dealer-manager) sent an email to broker-dealers and financial advisors affiliated with members of the company’s selling group. In the email, Cole announced that as of November 30, 2013, CCPT IV had accepted investor’s subscriptions for, and issued, approximately 183.6 million shares of common stock in the offering, resulting in gross proceeds of approximately $1.8 billion. The email also states, “Following the close of its primary offering, CCPT IV intends to continue selling shares of common stock pursuant to its distribution reinvestment plan (DRIP).” In addition, the email announced that the Company has reallocated $400.0 million in shares of common stock from the DRIP portion of the Offering to the primary portion of the Offering.

CCPT IV focuses on acquiring properties leased to national and regional brand-name retailers. As of October 31, 2013 the company’s portfolio consisted of 262 properties across 36 states. Some of its tenants include CVS, Walgreens, and Lowe’s.