Forward Take-Outs

VEREIT's forward take-out commitment program provides a capital commitment to fund the "take-out" or acquisition once pre-established contingencies have been met by the developer and the project. Once those contingencies have been met, VEREIT or one of the Cole Capital managed funds will close escrow taking ownership of the property with a long-term tenant in place.

Forward Take-Out Commitment Program

Forward Take-Out Project Example

VEREIT purchased a three-story medical office building while it was under construction as a build-to-suit for Connecticut General Life Insurance Company, the main operating entity of Cigna Corporation. The property serves as Cigna's flagship medical office building for the Phoenix MSA.

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