UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
July 26, 2013
Cornerstone Core Properties REIT, INC.
(Exact name of registrant as specified in its charter)
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| Maryland | 000-52566 | 73-1721791 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
1920 Main Street, Suite 400
Irvine, California 92614
(Address of principal executive offices)
(949) 852-1007
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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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.
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
| ITEM 2.01 | COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. |
On July 26, 2013, we completed the sale of the Santa Fe property to an unrelated third party for a purchase price of approximately $1.7 million in cash. Net proceeds from the sale of $1.6 million will be used to acquire new healthcare properties as part of the Company’s restructuring strategy, although there can be no assurance of such acquisitions. The property, located at 1830 South Santa Fe Street in Santa Ana, California is a 12,200 square foot industrial property we purchased in August 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| CORNERSTONE CORE PROPERTIES REIT, INC. | |||
| By: | /s/ Timothy C. Collins | ||
| Name: Timothy C. Collins | |||
| Title: Chief Financial Officer | |||
Dated: July 30, 2013