Phoenix-based Cole Real Estate Investments has launched its latest flagship investment offering: Cole Credit Property Trust IV Inc. (CCPT IV), a non-listed real estate investment trust (REIT).
According to the company, CCPT IV will seek to invest in U.S. commercial real estate with a primary focus on income-producing necessity retail properties that are single-tenant or multi-tenant anchored ‘power centers,’ subject to long-term triple net or double net leases with national or regional creditworthy tenants.
Cole is offering up to 250 million shares of common stock in the primary offering at $10 per share. Additionally, 50 million shares of common stock, pursuant to the dividend reinvestment plan, will be offered at $9.50 per share. Shares for individual investors will be made available through registered broker-dealers and their financial representatives.
Cole Capital Corp., a registered broker-dealer affiliated with Cole Real Estate Investments, will be the dealer-manager of the offering and will offer CCPT IV's shares on a best-efforts basis.