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COLE > SEC Filings for COLE > Form 8-K on 4-Nov-2013All Recent SEC Filings

Show all filings for COLE REAL ESTATE INVESTMENTS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for COLE REAL ESTATE INVESTMENTS, INC.


4-Nov-2013

Regulation FD Disclosure


Item 7.01 Regulation FD Disclosure.

As of September 30, 2013, Cole Real Estate Investments, Inc. (the "Company") owned 1,026 properties, comprising 44.8 million rentable square feet of single and multi-tenant retail and commercial space, which are leased to national and regional credit worthy tenants under long-term triple net leases, located in 48 states, which include properties owned through consolidated joint ventures. As of September 30, 2013, the rentable space at these properties was 99% leased. As of September 30, 2013, the Company also owned 21 commercial mortgage-backed securities, three notes receivable and, through unconsolidated joint ventures, had interests in 12 properties comprising 2.3 million rentable square feet of commercial and retail space.
The following table presents diversifications of the Company's owned real estate portfolio, based on annualized revenue, as of September 30, 2013:

                                               Rentable
                             Number of       Square Feet        Annualized Rental       % of Annualized
                            Investments      (thousands)     Revenue (thousands)(1)     Rental Revenue
Freestanding retail                 894           18,098     $            273,365            46.3 %
Multi-tenant retail                  77           11,465                  150,733            25.5 %
Office and industrial                55           15,236                  166,803            28.2 %
                                  1,026           44,799     $            590,901           100.0 %


________________


(1) Annualized rental revenue represents the average annual base rental income over the respective lease terms, including adjustments for rent concessions or abatements, if any. The following table shows certain information regarding the lease expirations of the Company's owned real estate portfolio, including consolidated joint ventures, as of September 30, 2013, during each of the next ten years, assuming no exercise of renewal options:
                                       Number of     Leased Square     Annualized Rental
                                         Leases          Feet               Revenue           % of Annualized
Lease Expiration Year                   Expiring      (thousands)       (thousands)(1)        Rental Revenue
October 1, 2013 through December
31, 2013                                      19              61     $               757           0.1 %
2014                                          65             244                   4,698           0.8 %
2015                                          88             418                   6,996           1.2 %
2016                                         130           1,171                  15,943           2.7 %
2017                                         142           1,023                  14,638           2.5 %
2018                                         192           2,295                  30,978           5.2 %
2019                                         108           2,354                  28,327           4.8 %
2020                                          57           1,157                  14,786           2.5 %
2021                                          78           2,949                  36,415           6.2 %
2022                                          74           2,829                  24,205           4.1 %
2023                                          88           2,610                  40,926           6.9 %
Totals                                     1,041          17,111     $           218,669          37.0 %


________________


(1) Annualized rental revenue represents the average annual base rental income over the respective lease terms, including adjustments for rent concessions or abatements, if any.


The following table shows certain information regarding the geographic diversification of the Company's owned real estate portfolio, including consolidated joint ventures, as of September 30, 2013:

                                                         Rentable       Annualized Rental
                                          Number of     Square Feet    Revenue (thousands)    % of Annualized
State                                    Properties     (thousands)            (1)            Rental Revenue
Alabama                                         27           1,286     $          16,401           2.8 %
Alaska                                           2              92                 1,615           0.3 %
Arizona                                         41           2,975                49,047           8.3 %
Arkansas                                        16             335                 3,652           0.6 %
California                                      22           2,905                40,689           6.9 %
Colorado                                        15             803                 9,123           1.5 %
Connecticut                                      1              70                 2,511           0.4 %
Delaware                                         2              35                   624           0.1 %
Florida                                         81           3,287                39,697           6.7 %
Georgia                                         43           3,293                47,030           8.0 %
Idaho                                            2              24                   498           0.1 %
Illinois                                        46           1,550                30,864           5.2 %
Indiana                                         44             531                10,017           1.7 %
Iowa                                            14             475                 4,787           0.8 %
Kansas                                           7             205                 2,602           0.4 %
Kentucky                                        17             139                 3,535           0.6 %
Louisiana                                       31             866                 9,032           1.5 %
Maine                                           14             282                 3,325           0.6 %
Maryland                                         6             366                 7,346           1.2 %
Massachusetts                                   10           1,222                14,332           2.4 %
Michigan                                        43           1,691                21,943           3.7 %
Minnesota                                        7             111                 2,379           0.4 %
Mississippi                                     11             258                 2,899           0.5 %
Missouri                                        26             428                 6,316           1.1 %
Montana                                          1              16                   261            -%        (2)
Nebraska                                         5             225                 3,739           0.6 %
Nevada                                          17             699                 7,428           1.3 %
New Hampshire                                    4             126                 2,023           0.3 %
New Jersey                                      14             891                20,450           3.5 %
New Mexico                                      18             685                 7,739           1.3 %
New York                                         7             651                 9,979           1.7 %
North Carolina                                  34           1,549                13,728           2.3 %
North Dakota                                     1              70                   926           0.2 %
Ohio                                            72           1,718                18,214           3.1 %
Oklahoma                                        21             446                 7,774           1.3 %
Oregon                                           2             229                 2,897           0.5 %
Pennsylvania                                    15           1,046                 8,035           1.4 %
Rhode Island                                     1              52                 1,010           0.2 %
South Carolina                                  27           2,148                16,885           2.9 %
South Dakota                                     2              22                   491           0.1 %
Tennessee                                       19           2,676                16,063           2.7 %
Texas                                          187           6,484                96,812          16.3 %
Utah                                             2              63                   496           0.1 %
Vermont                                          3               7                   134            -%        (2)
Virginia                                        23           1,335                18,407           3.1 %
Washington                                       6              40                   939           0.2 %
West Virginia                                    1              11                   302           0.1 %
Wisconsin                                       16             381                 5,905           1.0 %
Total                                        1,026          44,799     $         590,901         100.0 %


________________


(1) Annualized rental revenue represents the average annual base rental income over the respective lease terms, including adjustments for rent concessions or abatements, if any.

(2) Represents less than 0.1% of total annualized rental revenue.


The following table shows certain information regarding the tenant industry diversification of the Company's owned real estate portfolio, including consolidated joint ventures, as of September 30, 2013:

Industry                                Percentage of Annualized Rental Revenue
Agricultural products and services                                     - %       (1)
Animal supplies                                                      4.0 %
Auto retail                                                          2.0 %
Auto services                                                          - %       (1)
Casual dining                                                        4.2 %
Childcare and development                                              - %       (1)
Consumer products                                                    1.9 %
Discount retail                                                      2.6 %
Education                                                            2.7 %
Family dining                                                        3.8 %
Financial services                                                   2.3 %
Fitness                                                              2.9 %
Freight                                                              0.6 %
Furniture rental and leasing                                         0.8 %
Gas/Convenience                                                      2.8 %
Government services                                                  0.8 %
Healthcare                                                           4.3 %
Home maintenance                                                     3.4 %
Information and communications                                       0.1 %
Insurance                                                            1.9 %
Manufacturing                                                        1.5 %
Marine products                                                      0.2 %
Office products                                                      0.9 %
Oil/Gas                                                              1.5 %
Personal services                                                    0.7 %
Pharmacy                                                             8.8 %
Professional services                                                2.3 %
Quick service restaurant                                             1.8 %
Retail - department                                                  5.1 %
Retail - discount                                                    2.4 %
Retail - electronics and appliances                                    - %       (1)
Retail - grocery                                                     1.4 %
Retail - hobby/books/music                                           1.2 %
Retail - home furnishings                                            0.4 %
Retail - internet                                                    2.4 %
Retail - office supply                                               0.3 %
Retail - pet supply                                                  0.4 %
Retail - sporting goods                                              2.3 %
Retail - variety                                                     2.9 %
Retail - wholesale                                                   4.1 %
Retail banking                                                       1.0 %
Specialty retail                                                     7.0 %
Supermarket                                                          6.7 %
Telecommunications                                                   3.6 %
Total                                                              100.0 %


________________


(1) Represents less than 0.1% of total annualized rental revenue.

The information in this Item 7.01 is deemed to have been furnished to, and shall not be deemed to be "filed" with, the Securities and Exchange Commission.


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