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): January 13, 2011

Cole Credit Property Trust II, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Maryland	000-51963	20-1676382
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)
2555 East Camelback Road, Suite 400, Phoenix, Arizona 85016
(Address of principal executive offices)
(Zip Code)
(602) 778-8700
(Registrant’s telephone number, including area code)
None
(Former name or former address, if changed since last report)

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:

o           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o           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 January 13, 2011, Cole Credit Property Trust II, Inc. (the “Company”) issued a press release announcing that the Company had entered into a senior unsecured credit facility providing for up to $315.0 million of borrowings pursuant to an amended and restated credit agreement.  The Company’s entry into this agreement was previously reported in a Form 8-K filed with the Securities and Exchange Commission on December 23, 2010.  A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference. The information in this Current Report, including the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.   ;

Item 9.01 Financial Statements and Exhibits

(d)           Exhibits

99.1 Press Release, dated January 13, 2011.

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SIGNATURE

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 thereunto duly authorized.

Dated: January 13, 2011	COLE CREDIT PROPERTY TRUST II, INC.
	By:	/s/ D. Kirk McAllaster, Jr.
	Name:	D. Kirk McAllaster, Jr.
	Title:	Executive Vice President and Chief Financial Officer (Principal Financial Officer)

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EX-99.1

Exhibit 99.1

For further information, contact:	Media inquiries, contact Great Ink Communications:
John Towle, Chief Marketing Officer	(212) 741-2977
Cole Real Estate Investments	Roxanne Donovan - roxanne@greatink.com
jtowle@colecapital.com	Mitchell Breindel - mitchell@greatink.com
	Leslie LeCount - leslie@greatink.com

FOR IMMEDIATE RELEASE

COLE CREDIT PROPERTY TRUST II CLOSES ON $315 MILLION

UNSECURED LINE OF CREDIT

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Credit Line Will Enable Greater Flexibility to Capitalize on Market Opportunities

PHOENIX, AZ: (January 13, 2011) – Cole Real Estate Investments (Cole), a sponsor of non-traded REITs, announced that Cole Operating Partnership II, LP, the operating partnership of Cole Credit Property Trust II, Inc. (“Cole REIT II”), has closed on a $315 million senior unsecured credit facility (the “Credit Facility”) with Bank of America, N.A. as administrative agent, JP Morgan Chase Bank, N.A. as syndication agent, and U.S. Bank National Association and RBS Citizens, N.A. as co-documentation agents. Merrill Lynch; Pierce, Fenner & Smith Incorporated; and J.P. Morgan Securities, LLC served as joint lead arrangers and joint book managers in the transaction. The Credit Facility replaces an existing $135 million revolving credit agreement.

The Credit Facility consists of a $100 million term loan and a $215 million revolving credit facility and includes an accordion feature whereby Cole REIT II has the option to increase the maximum borrowings under the Credit Facility to $450 million, subject to meeting certain conditions.  The interest rate for the Credit Facility ranges from 1.75% to 4.0% over LIBOR, subject to the Cole REIT II leverage ratio. The Credit Facility matures in December 2013.

“This unsecured facility will provide Cole REIT II with enhanced flexibility to manage its real estate portfolio and refinance its near-term debt maturities, strengthen its balance sheet and pursue acquisitions that create value for our investors,” stated Kirk McAllaster, executive vice president and chief financial officer of Cole. “This credit facility is a critical strategic asset, and direct affirmation of the success of our disciplined investment strategy in building a premier real estate portfolio.”

“The closing of this credit facility marks a major achievement for Cole, confirming our place among the preeminent real estate investment managers,” said Mitchell Sabshon, executive vice president and chief operating officer of Cole. “Building and strengthening our relationships with these leading financial institutions is a key factor in enabling us to capitalize on market opportunities.”

About Cole Real Estate Investments

Founded in 1979, Cole Real Estate Investments is one of the most active investors and owners of core real estate assets, managing one of the country’s largest portfolios of retail properties.  Cole primarily targets net leased single-tenant and multi-tenant retail properties under long-term leases with high credit quality tenants, as well as, single-tenant office and industrial properties. Cole executes a conservative investment and financing strategy designed to provide investors with the opportunity for stable current income and capital appreciation. Today, Cole related entities own 37 million square feet of com mercial real estate in 46 states with a combined acquisition cost over $7 billion.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements that reflect the current views of Cole REIT II and Cole REIT II’s management with respect to future events.  Forward-looking statements about Cole REIT II’s plans, strategies, and prospects are based on current information, estimates, and projections; they are subject to risks and uncertainties, as well as known and unknown risks, which could cause actual results to differ materially from those projected or anticipated.  Forward-looking statements are not intended to be a guarantee of any event, action, result, ou tcome, or performance in future periods.  Cole REIT II does not intend or assume any obligation to update any forward-looking statements, and the reader is cautioned not to place undue reliance on them.

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