Shearman And Sterling

News February 13, 2015

Shearman & Sterling Advises on Financing Commitment for Select Income REIT Acquisition of Cole Corporate Income Trust

Shearman & Sterling represented Citibank, N.A., as joint lead arranger and administrative agent, in providing $1 billion in bridge financing of the $3 billion acquisition by Select Income REIT (NYSE: SIR) of Cole Corporate Income Trust (CCIT) through a merger transaction. UBS Securities LLC acted as a joint lead arranger in the financing.

Cole Corporate is a public, non-listed REIT. Cole invests in net leased “necessity corporate” properties, which include distribution facilities, warehouses, manufacturing plant and corporate and regional headquarters buildings. Select Income is a NYSE-listed REIT that primarily owns and invests in properties that are net leased to single tenants. Select is externally managed by Reit Management & Research LLC (RMR).

Team Lead