Chambers Street Properties Completes Sale of North Carolina Office Property

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 completed the sale of Regency Creek I, a 122,087 square foot office building located in Cary, North Carolina for $16.4 million. Mortgage loans of approximately $8.6 million were assumed by the buyer in this transaction. This property was included in the Company’s joint venture with Duke Realty Corporation and the dollar amounts stated above represent Chambers Street’s 80% pro rata share.

“Additionally, this sale further demonstrates that Chambers Street is executing on its investment strategy of selling non-core office assets to fund future U.S. industrial acquisitions.”

“We continue to enhance the portfolio by reducing our secured debt, joint venture, and multi-tenant, non-core office exposure,” said Martin A. Reid, Executive Vice President and Chief Financial Officer, Chambers Street. “Additionally, this sale further demonstrates that Chambers Street is executing on its investment strategy of selling non-core office assets to fund future U.S. industrial acquisitions.”

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, 2014, Chambers Street owned or had a majority interest in 129 properties located across 20 U.S. states, France, Germany, and the United Kingdom encompassing approximately 36.3 million rentable square feet. 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 Contacts
Tim Gallen / Andrew Neilly, 925-930-9848
Tim@Gallen.com / Andrew@Gallen.com

Chambers Street Properties