City Office REIT, Inc. (NYSE:CIO) Files An 8-K Completion of Acquisition or Disposition of Assets
Item2.01.
|
Completion of Acquisition or Disposition of Assets. |
On December15, 2016, City Office REIT, Inc. (the Company),
through two wholly-owned subsidiaries of its operating
partnership, City Office REIT Operating Partnership, L.P., closed
on the acquisition of SanTan Corporate Center (SanTan), an
approximately 266,531 square foot, two-building ClassA office
complex located in Phoenix, Arizona, for $58.5million, exclusive
of closing costs. SanTan was previously owned by Wells REIT II
SanTan Corporate Center I, LLC and Wells REIT II SanTan Corporate
Center II, LLC.
| Item9.01. | Financial Statements and Exhibits. |
(a) Financial Statements of Property Acquired
To the extent required by this item, historical financial
statements for SanTan will be filed in an amendment to this
current report on Form 8-K no later than 71 calendar
days after the date of this report.
(b) Pro Forma
Financial Information
To the extent
required by this item, pro forma financial information relating
to the acquisition of SanTan will be filed in an amendment to
this current report on Form 8-K no later than 71 calendar days
after the date of this report.
About City Office REIT, Inc. (NYSE:CIO)
City Office REIT, Inc. is focused on acquiring, owning and operating Class A and B office properties located within its target markets in the United States. The Company operates in the office properties segment. The Company has over 10 primary target markets, which are located in metropolitan areas in the Southern and Western United States. It owns over 10 office complexes consisting of over 30 office buildings with a total area of approximately 3.3 million square feet of net rentable area (NRA) in the metropolitan areas of Boise (Idaho), Denver (Colorado), Portland (Oregon), Tampa (Florida), Allentown (Pennsylvania), Dallas (Texas) and Orlando (FLorida). Approximately 49.1% of the rental revenue from properties is derived from tenants in these markets that are federal or state government agencies or investment grade tenants. Its principal business objective is to provide risk-adjusted returns to investors over the long-term through a combination of dividends and capital appreciation. City Office REIT, Inc. (NYSE:CIO) Recent Trading Information
City Office REIT, Inc. (NYSE:CIO) closed its last trading session down -0.02 at 12.91 with 91,000 shares trading hands.