November 22, 2024 12:03 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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