UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 26, 2012
Industrial Income Trust Inc.
(Exact name of registrant as specified in its charter)
Maryland | 000-54372 | 27-0477259 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
518 Seventeenth Street, 17th Floor
Denver, CO 80202
(Address of principal executive offices)
(303) 228-2200
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. | Other Events. |
Status of Investments in Real Estate
As of June 26, 2012, Industrial Income Trust Inc. (the Company) has acquired, either through its wholly-owned subsidiaries or through its 51% ownership interest in a joint venture partnership, properties with an aggregate total purchase price of approximately $1.7 billion, comprised of 156 buildings totaling approximately 28.6 million square feet with 297 tenants and an occupancy rate of 92%, in 16 major industrial markets, including 12 value-add buildings. The Companys operating portfolio, which excludes the value-add buildings, included 144 buildings totaling approximately 26.1 million square feet with 281 tenants, an occupancy rate of 97% and an aggregate average remaining lease term (based on square feet) of 5.3 years.
As of June 26 2012, assuming that the Company had completed certain acquisitions currently under contract, the Company will have acquired, either through its wholly-owned subsidiaries or through its 51% ownership interest in a joint venture partnership, properties with an aggregate total purchase price of approximately $1.9 billion, comprised of 163 buildings totaling approximately 31.5 million square feet with 314 tenants and an occupancy rate of 93%, in 17 major industrial markets, including 12 value-add buildings. Assuming completion of the acquisitions currently under contract, the Companys operating portfolio, which excludes the value-add buildings, will be comprised of 151 buildings totaling approximately 29.0 million square feet with 298 tenants, an occupancy rate of 97% and an aggregate average remaining lease term (based on square feet) of approximately 5.5 years. There is no assurance that the Company will consummate the acquisitions currently under contract.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements (such as those concerning the potential acquisitions under contract) that are based on the Companys current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, risks associated with the Companys ability to secure debt financing and complete acquisitions under contract, and those risks set forth in the Risk Factors section of the Companys Annual Report on Form 10-K for the year ended December 31, 2011, as amended or supplemented by the Companys other filings with the Securities and Exchange Commission. Although these forward-looking statements reflect managements belief as to future events, actual events or our investments and results of operations could differ materially from those expressed or implied in these forward-looking statements. To the extent that the Companys assumptions differ from actual results, the Companys ability to meet such forward-looking statements may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. The Company cannot assure you that it will attain its investment objectives.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INDUSTRIAL INCOME TRUST INC. | ||||||
June 26, 2012 | By: | /s/ THOMAS G. MCGONAGLE | ||||
Name: Thomas G. McGonagle | ||||||
Title: Chief Financial Officer and Treasurer |
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