A new article from CoStar reports that Cole Real Estate Investment, via a letter sent to financial advisors, announced its plans to exit a 20.6 million square foot triple net leased portfolio accumulated by its affiliate, Cole Credit Property Trust II. The piece includes excerpts from the letter written by Cole President Marc Nemer:
"There appears to be a growing demand in the market for the type of assets that comprise the CCPT II portfolio: high-quality properties net-leased on a long-term basis to industry-leading tenants. We are also seeing positive indications that the commercial real estate markets are continuing to recover as we actively explore options to successfully exit the portfolio within the next 12 months.
"As the commercial real estate markets continue to rebound, we believe the market cycle we are in favors portfolios like CCPT II, which consist of high-quality, brand name tenants under long-term leases," Nemer wrote. "Additionally, the retail sector in particular is beginning to benefit from the labor market recovery and the associated incremental improvement in consumer confidence.
"We believe we are moving into a healthy environment for a portfolio exit, and we are evaluating options to take CCPT II full cycle within the next 12 months. Potential exit strategies we are looking at include, but are not limited to, a sale of the portfolio or a listing of the portfolio on a public stock exchange."
For more news and information visit Blumberg Capital Partners.
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