Chambers Street Properties to Sell 70 & 90 Hudson Street for $299 Million

PRINCETON, N.J.--()--Chambers Street Properties (“Chambers Street” or the “Company”) (NYSE:CSG), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, today announced it has entered into agreements to sell the Company’s 70 Hudson Street (“70 Hudson”) and 90 Hudson Street (“90 Hudson”) office buildings located in Jersey City, New Jersey for an aggregate sales price of $299 million. The transaction is expected to close in the first quarter of 2016, subject to customary closing conditions.

At closing, Chambers Street intends to prepay mortgage debt on 70 Hudson of approximately $112 million and assign a loan to the buyer of 90 Hudson for approximately $102 million. The Company retains an option to prepay mortgage debt on 90 Hudson prior to closing, which, if exercised, would increase the aggregate sales price by an additional $5 million.

About Chambers Street Properties (NYSE:CSG)

Chambers Street is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, leased to creditworthy tenants. As of September 30, 2015, Chambers Street owned or had a majority interest in 125 properties located across 19 U.S. states, France, Germany, and the United Kingdom encompassing approximately 37.2 million rentable square feet. For additional information, please visit: www.chambersstreet.com.

For additional information, please visit www.ChambersStreet.com.

Contacts

Investor Relations
Chambers Street Properties
Heather Gentry, 609-683-4900
Heather.Gentry@CSPREIT.com
or
Media
Tim Gallen
Tim@Gallen.com
or
Andrew Neilly, 925-930-9848
Andrew@Gallen.com

Chambers Street Properties