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May 04, 2015 10:27 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Cole Credit Property Trust, Inc.

Company Overview

Cole Credit Property Trust, Inc. operates as a real estate investment trust (REIT) in the United States. The company, through its operating partnership, Cole Operating Partnership I, LP, acquires and operates commercial real estate primarily consisting of freestanding and single-tenant retail properties that are leased to investment grade and other tenants. As of September 30, 2012, it owned 36 properties comprising 934,000 square feet of single-tenant retail and commercial space located in 17 states. Cole REIT Advisors, LLC operates as an advisor of the company. As a REIT, the company would not be subject to federal corporate income tax, if the company distributes at least 90% of its REIT t...

2325 East Camelback Road

Suite 1100

Phoenix, AZ 85016

United States

Founded in 2004

Phone:

602-778-8700

Key Executives for Cole Credit Property Trust, Inc.

Chairman, Chief Executive Officer and President
Age: 60
Chief Financial Officer, Executive Vice President, Treasurer and Director
Age: 47
Compensation as of Fiscal Year 2014.

Cole Credit Property Trust, Inc. Key Developments

Cole Credit Property Trust, Inc. Announces Board Changes

On May 19, 2014, American Realty Capital Properties, Inc. completed its acquisition of Cole Credit Property Trust, Inc. pursuant to the Agreement and Plan of Merger dated as of March 17, 2014 (the Merger Agreement), among ARCP, the company and Desert Acquisition, Inc. and direct wholly-owned subsidiary of ARCP (Merger Sub). In connection with the consummation of the Merger, each of the following members of the company's Board of Directors resigned from the Board, effective immediately prior to the effective time: Robin A. Ferracone, William M. Kahane, D. Kirk McAllaster, Jr. and Nicholas S. Schorsch. These resignations were not result of any disagreements between the Company and the current directors on any matter relating to the Company's operations, policies or practices. Simultaneous with the resignations described above and solely in connection with the closing of the Merger, each of the following officers of the company resigned, effective immediately prior to the effective time: Nicholas S. Schorsch as Chief Executive Officer and President; and D. Kirk McAllaster, Jr. as Executive Vice President, Chief Financial Officer and Treasurer.

Cole Credit Property Trust, Inc. Announces Amendments to Amended and Restated Bylaws

On March 17, 2014, the Board of Cole Credit Property Trust, Inc. amended the company’s amended and restated Bylaws, as amended by amendment no. 1 dated as of November 9, 2012.

Cole Credit Property Trust, Inc. Appoints Robin A. Ferracone as Director

The Board of Directors of Cole Credit Property Trust, Inc. increased the size of the Board from three to four members, and appointed Ms. Robin A. Ferracone as a director of the company, effective immediately. Ms. Ferracone will serve as a director until the company's 2014 Annual Meeting of Stockholders and until her successor is duly elected and qualifies, or until her earlier resignation or removal in accordance with the company's organizational documents and applicable law. Ms. Ferracone is founder and chief executive officer of Farient Advisors.

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