REIT Spends $120M On Energy Co. Encana's US Base

Law360, New York (November 28, 2012, 5:36 PM EST) -- Cole Real Estate Investments has picked up the Texas headquarters of energy company Encana Corp.'s U.S. arm for $120 million, the Phoenix-based real estate investment trust announced Wednesday.

The REIT said it used proceeds from recent sales to purchase the property that houses Encana Oil & Gas (USA) Inc.'s regional headquarters. Other terms of the deal were not disclosed.

Thomas W. Roberts, executive vice president and head of real estate investments for Cole, said in a statement that the campus was “a high-quality asset under a...
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