M&A - Cohen & Steers Income Opportunities REIT, Inc.

Form Type: 8-K/A

Filing Date: 2025-03-05

Corporate Action: Acquisition

Type: Update

Accession Number: 000193943325000029

Filing Summary: On December 20, 2024, Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) completed the acquisition of the Bridgepointe Shopping Center, located in San Mateo, California, for approximately $127.4 million. The acquisition is by Core Power Acquisitions, LLC, a wholly-owned subsidiary of a joint venture between CNSREIT and The Sterling Organization, LLC. CNSREIT holds a 99% interest in the joint venture. The financing for the purchase included $69.3 million in property-level financing and $58.1 million in equity contributed by the joint venture partners. The purpose of this Form 8-K/A filing is to provide audited financial statements and pro forma financial impact information regarding the acquisition. The report includes specific statements of revenue and certain expenses related to the Bridgepointe property, audited for the year ended December 31, 2023, along with unaudited comparative financial data for the nine months ended September 30, 2024. The financial summary indicates revenues of $7,033,000 and certain expenses amounting to $2,610,000 for the nine months ended September 30, 2024, leading to revenues exceeding expenses by $4,423,000. The financial impact of the acquisition on CNSREIT's overall financial position is reflected in the pro forma consolidated balance sheet and statements of operations that project effects as if the acquisition occurred earlier, indicating significant adjustments in asset values and financing structures.

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Form Type: 8-K

Filing Date: 2025-01-21

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525009201

Filing Summary: On January 21, 2025, Cohen & Steers Income Opportunities REIT, Inc. issued a press release regarding the acquisition of an open-air shopping center in Orlando, Florida. This announcement followed the company's unregistered sales of 1,470,152 Class P shares on January 14, 2025, at a price of $11.03 per share, totaling an aggregate purchase price of $16,217,840. Approximately 50% of these shares were issued to the advisor, Cohen & Steers Capital Management, Inc., as part of its commitment to invest a total of $125 million in the company’s shares of common stock. The share issuance was exempt from registration provisions of the Securities Act of 1933 under Section 4(a)(2) and Regulation D.

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Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Acquisition

Type: New

Accession Number: 000119312524283757

Filing Summary: Cohen & Steers Income Opportunities REIT, Inc. completed the acquisition of the Bridgepointe Shopping Center in San Mateo, California. The acquisition was executed through Core Power Acquisitions, LLC, a wholly-owned subsidiary of a joint venture with The Sterling Organization, and followed a purchase agreement initiated on October 16, 2024. The transaction closed on December 20, 2024, at a total purchase price of approximately $127.0 million, funded via proceeds from private and public offerings, along with third-party mortgage financing. A press release detailing this acquisition was issued on December 23, 2024, and is attached as Exhibit 99.1. Financial statements related to the acquisition are to be filed within the regulatory time frame stipulated under the SEC guidelines.

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