April 18, 2024 4:55 am
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Spirit, Cole REITS complete $7.4 billion merger

Net-lease REITs own free-standing buildings occupied by single tenants, including retailers, restaurants and office tenants.
Net-lease REITs own free-standing buildings occupied by single tenants, including retailers, restaurants and office tenants.

By Catherine Reagor | The Arizona Republic

Spirit Realty Capital and Cole Credit Property Trust II have completed their $7.4 billion merger.

The combination of the Phoenix firms will create one of the largest publicly traded real estate investment trusts operating in the net-lease sector.

Net-lease REITs own free-standing buildings occupied by single tenants, including retailers, restaurants and office tenants.

Together, Spirit Realty and Cole Credit will own 1,900 properties in 48 states, making it one of the largest net-lease REITs in the country. The two companies’ merger was approved at a shareholder meeting on June 12.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

 

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.