Cole RE Investments Pays $161M For Texas, Mass. Properties

Law360, Houston (July 1, 2013, 7:21 PM EDT) -- A Cole Real Estate Investments unit announced Monday it has purchased corporate properties in Texas and Massachusetts occupied by Allstate Insurance Co., The Men’s Wearhouse and Harvard Vanguard Medical Associates for nearly $161 million.

The deals, valued at $160.8 million, give Cole Corporate Income Trust Inc.’s growing portfolio three Class A properties in and around Houston, Dallas and Boston totaling 713,950 square feet, which are currently under long-term, single-tenant leases.

“These high-quality assets exemplify CCIT’s investment criteria,” Robert Micera, chief investment officer for office and industrial...
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