Chambers Street Properties, a publically traded REIT (NYSE: CSG) focused on acquiring and managing income-producing industrial and office properties announced today that the Company has been added as a member of the Russell 3000® and Russell Global Indexes after the equity markets closed on June 28 as Russell Investments reconstituted its comprehensive family of U.S. and global indexes.
Chambers Street was included on a preliminary list of additions posted by Russell Investments on June 14, 2013. Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets currently are benchmarked to them.
“The Russell Indexes are closely followed in the broader investment community and our inclusion following our May 2013 listing on the New York Stock Exchange is another important step in our development as a publicly traded company,” said Jack A. Cuneo, President and CEO of Chambers Street.
About Chambers Street Properties (NYSE: CSG)Headquartered in Princeton, New Jersey, Chambers Street is a publically traded REIT that is led by an experienced management team that is focused on acquiring and managing income-producing industrial (primarily warehouse, distribution and logistics) and office properties leased to creditworthy corporate and government tenants. The Company’s primary objective is to maximize shareholder value through stable cash flow and long-term asset appreciation. In pursuing this objective, Chambers Street targets growth through acquisitions and selective built-to-suit development in markets that complement its existing portfolio, actively manages its balance sheet to maintain flexibility with conservative leverage, and seeks internal growth through proactive asset management, leasing and property management oversight. Since Chambers Street’s formation in 2004, the Company has acquired and developed a high-quality industrial and office portfolio comprised primarily of single tenant net lease properties with an aggregate purchase price of approximately $3.2 billion. As of March 31, 2013, Chambers Street owned or had a majority interest in 129 properties located across 22 U.S. states, Germany, and the United Kingdom encompassing approximately 34.1 million rentable square feet. As of March 31, 2013, Chambers Street’s portfolio had a weighted average age of approximately 10 years and was 97% leased with approximately 82% of its rentable square footage leased to single tenants on a triple net basis.
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