Cole Credit Property Trust II Announce Merger with Spirit Realty Capital

Monday, March 4th, 2013

Are you concerned about your investment in Cole Credit Property Trust II? If so, the following information may be of some assistance to you.

According to Cole Capital’s website, the Cole Credit Property Trust II (CCPT II) recently announced the approval of a definitive agreement to merge with Spirit Realty Capital on January 22, 2013. The combined company will create the second largest publicly traded triple-net lease REIT and is valued at approximately $7.1 billion. The merger is expected to close in the 3rd quarter of 2013.

The combined REIT will retain the Spirit Realty name and will be lead by the Spirit Realty management team. In addition, the combined REIT will have a nine-member board of directors, seven of whom will be existing board members of Spirit Realty and two representatives from CCPT II. This may come as good news to CCPT II investors who have not seen the returns on their investment as they had hoped.

Christopher H. Cole, founder and executive chairman of Cole said that the merger “represents a positive cumulative total return on their investment and provides an opportunity for liquidity in what will be one of the largest publicly traded net lease REITs.” The combined REIT will be trade on the New York Stock Exchange under Spirit Realty’s existing ticker “SRC.”

Spirit Realty shareholders will receive a fixed exchange ratio of 1.9048 CCPT II shares for each share of Spirit Realty common stock and will own approximately 44%of the combined REIT.  The announcement stated that “Based on Spirit Realty’s closing price of $17.82 per share on January 18, 2013, the exchange ratio implies a value of $9.36 per CCPT II share and reflects a positive cumulative total return including dividends of 20-42% for shareholders of CCPT II, depending on the shareholder holding period.”

To learn more about the merger visit https://www.colecapital.com/press-room/articles/2013/cole-reit-ii-spirit-realty-merger

If you have questions regarding your investment in Cole Credit Property Trust II, and would like to speak to a securities attorney, please call the White Law Group at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group visit www.whitesecuritieslaw.com.

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