Cole Office & Industrial REIT (CCIT II), Inc. Board of Directors Engages Independent Valuation Firm to Assist in the Calculation of a Net Asset Value of Its Shares

PHOENIX, Feb. 1, 2016 /PRNewswire/ -- The Board of Directors (the "Board") of Cole Office & Industrial REIT (CCIT II), Inc. ("CCIT II" or the "Company"), a publicly registered non-listed real estate investment trust ("REIT") focused on investing in single-tenant, income-producing, necessity office and industrial properties, today announced that it has engaged an independent valuation firm to assist with the Board's determination of an estimated Net Asset Value ("NAV") per share that will be reflected on future stockholder account statements.

In anticipation of the April 11, 2016 implementation of the new customer account statement rules (FINRA Regulatory Notice 15-02), the Company engaged Cushman & Wakefield of Illinois, Inc., Valuation & Advisory group, to assist with determining the estimated per share NAV and a fair value range of CCIT II's real estate portfolio. The Board expects to announce a per share estimated NAV in early April 2016. The new NAV is expected to appear on April account statements, delivered to the Company's stockholders in early May 2016.

The valuation will be based upon the estimated market value of CCIT II's assets, less the estimated market value of the Company's liabilities, divided by the total shares outstanding, and will be performed in accordance with the valuation guidelines established by the Investment Program Association Practice Guideline 2013-01, Valuations of Publicly Registered Non-Listed REITs.

About Cole Office & Industrial REIT (CCIT II), Inc.
CCIT II is a public, non-listed REIT formed in 2013 that invests primarily in single-tenant, income-producing, necessity office and industrial properties that are leased to creditworthy tenants under long-term, net leases. CCIT II seeks to provide access to the highest-quality commercial real estate assets, providing current income, reduced portfolio volatility and potential for capital appreciation.

About Cole Capital®
Cole Capital is the investment management business of VEREIT, Inc. As an industry leading non-listed REIT sponsor, Cole Capital creates innovative net lease real estate products that serve individual investors and financial professionals. Built on more than 35 years of experience and real estate acquisitions of approximately $21 billion, Cole Capital's net lease strategy seeks to collect rent from industry-leading corporations and provide a stream of income to investors through non-listed REITs. Additional information about Cole Capital and its products can be found on its website at www.colecapital.com.

Forward Looking Statements
Certain statements contained in this press release, other than historical facts, may be considered forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to, statements related to the Company's expectations regarding the determination of an estimated net asset value per share of the Company's common stock. You can identify these forward-looking statements by the use of words such as "expects," "will," "seeks," "intends," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, as updated by the Company's subsequent Quarterly Reports on From 10-Q for the periods ended March 31, 2015, June 30, 2015 and September 20, 2015 filed with the U.S. Securities and Exchange Commission. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements, including, but not limited to, the Company's ability to determine and announce an NAV. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Actual events occurring after the Company's determination of an estimated NAV per share may cause the value and returns on the Company's investments to be less than those used for purposes of determining the Company's estimated NAV per share.

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SOURCE Cole Capital

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