8-K

 

 

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): February 8, 2017

 

 

Industrial Property Trust Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   000-55376   61-1577639

(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

(Registrant’s 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 7.01. Regulation FD Disclosure.

On February 8, 2017, Industrial Property Trust Inc. (the “Company”) issued a press release announcing fourth quarter 2016 acquisition activity. A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), the information set forth in Exhibit 99.1 is deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.

 

Item 8.01. Other Events.

Public Earnings Call

The Company will host a public conference call on Thursday, April 6, 2017 to review quarterly and year-end operating and financial results for the quarter and year ended December 31, 2016. Dwight Merriman, Chief Executive Officer, and Tom McGonagle, Chief Financial Officer, will present operating and financial data and discuss the Company’s corporate strategy and acquisition and development activity. The conference call will take place at 2:15 p.m. MDT and can be accessed by dialing (877) 742-5590; conference ID 57665164. To access a replay of the call, contact Dividend Capital at (866) 324-7348.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

99.1 Press Release of the Company, dated February 8, 2017.

Forward-Looking Statement

This Current Report on Form 8-K contains forward-looking statements, such as statements concerning the further acquisition of industrial properties by the Company, that are based on the Company’s current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties, including, without limitation, risks associated with the Company’s ability to consummate additional acquisitions and otherwise execute on its investment strategy, customers’ ability to continue to comply with the terms of their respective leases, and those risks set forth in the Company’s Annual Report on Form 10-K filed with the SEC on March 10, 2016 and the Company’s other filings with the SEC. Although these forward-looking statements reflect management’s belief as to future events, actual events or the Company’s investments and results of operations could differ materially from those expressed or implied in these forward-looking statements. To the extent that the Company’s assumptions differ from actual results, the Company’s 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 PROPERTY TRUST INC.
February 8, 2017     By:   /s/ THOMAS G. MCGONAGLE
      Name: Thomas G. McGonagle
      Title:   Chief Financial Officer

 

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EXHIBIT INDEX

99.1 Press Release of the Company, dated February 8, 2017.

EX-99.1

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

February 8, 2017

  

For more information:

Contact: Eric Paul

Dividend Capital

(303) 228-2200

INDUSTRIAL PROPERTY TRUST INC. ANNOUNCES

FOURTH QUARTER 2016 ACQUISITION ACTIVITY

DENVER, CO — February 8, 2017 — Industrial Property Trust Inc. (“IPT”), an industrial real estate investment trust that owns and operates distribution warehouses throughout the United States, announced today that, during the fourth quarter of 2016, it had acquired, either directly or through its 20% ownership interest in a joint venture partnership, 11 industrial buildings totaling 1.4 million square feet, located in six markets throughout the United States, for an aggregate purchase price of approximately $106.9 million.

“These acquisitions will help us continue to grow our established position in targeted supply-constrained markets,” said Dwight Merriman, Chief Executive Officer of IPT. “We continue to progress towards building a high quality, national industrial property operating platform, and are benefiting from strong property and market-level fundamentals.”

From January 2014 through December 2016, IPT had acquired, either directly or through its 20% ownership interest in a joint venture partnership, 247 industrial buildings totaling 39.8 million square feet in 27 markets throughout the U.S. for an aggregate purchase price of approximately $2.9 billion. Of these buildings, IPT owned and managed 27 industrial buildings totaling approximately 4.4 million square feet through its 20.0% ownership interest in a joint venture partnership.

About Industrial Property Trust Inc.

IPT is focused on acquiring, developing, and managing high-quality distribution warehouses that are leased to corporate customers. IPT’s core strategy is to build a national industrial property operating platform by targeting markets that have high barriers to entry, proximity to a large demographic base, and/or access to major distribution hubs. IPT has operated and elected to be treated as a real estate investment trust (“REIT”) for U.S. federal income tax purposes, commencing with the taxable year that ended on December 31, 2013, and IPT intends to continue to operate in accordance with the requirements for qualification as a REIT.


This press release contains forward-looking statements, such as statements concerning IPT’s further acquisition of industrial properties, that are based on IPT’s current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties, including, without limitation, IPT’s ability to consummate additional acquisitions and otherwise execute on its investment strategy, the availability of affordable financing, IPT’s ability to identify and time investments that will generate attractive returns for investors, customers’ ability to continue to comply with the terms of their leases, and those risks set forth in IPT’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission (the “SEC”) on March 10, 2016, as amended or supplemented by IPT’s other filings with the SEC (available at www.sec.gov). Any of these statements could be inaccurate, and actual events or IPT’s investments and results of operations could differ materially from those expressed or implied. To the extent that IPT’s assumptions differ from actual results, IPT’s ability to meet such forward-looking statements, including its ability to consummate additional acquisitions and financings, to invest in a diversified portfolio of high-quality real estate investments, and to generate attractive returns for investors, may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. IPT cannot assure you that it will attain its investment objectives.

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