Cole Real Estate Investments, a commercial real estate sponsor, has announced a $105 million mortgage financing through Wells Fargo.

This 4.72% fixed-rate per annum loan is on five net-leased office and industrial properties, with a maturity date of 2015. The loan-to-value ratio is 59%.

The properties were bought in cash for $177.4 million, following which the five-year loan from Wells Fargo was agreed upon. The bank will either securitize the mortgage or include it in its portfolio.

The five properties add up to 1.9 million square feet in total space and are: AT&T’s regional headquarters in Dallas; Igloo Products’ regional headquarters in Katy, Texas; a Home Depot distribution center in Tolleson, Arizona; the Connecticut General Life building in Plano, Texas; and the Experian Marketing Solutions building in Schaumburg, Illinois.

Phoenix-based Cole Real Estate was founded in 1979 and has more than $6 billion in real estate assets under management.


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