Subsequent Events

The following events occurred subsequent to December 31, 2017:

Cole Sale

The Company closed on the Cole Capital Purchase and Sale Agreement on February 1, 2018. At closing, the Operating Partnership and Cole Capital entered into the Services Agreement, pursuant to which the Company will continue to provide certain services to Cole Capital and its subsidiaries and to the Cole REITs, including operational real estate support. The Company will continue to provide such services through March 31, 2019 (or, if later, the date of the last government filing other than a tax filing made by any of the Cole REITs with respect to its 2018 fiscal year) and will provide consulting and research services through December 31, 2023 as requested by Cole Capital.

Real Estate Investment Activity

From January 1, 2018 through February 20, 2018, the Company disposed of seven properties for an aggregate gross sales price of $57.8 million, of which the Company’s share was $57.4 million and an estimated gain of $8.5 million. In addition, the Company acquired six properties for an aggregate purchase price of $66.3 million, excluding capitalized external acquisition-related expenses.

Common Stock Dividend

On February 21, 2018, the Company’s board of directors declared a quarterly cash dividend of $0.1375 per share of common stock (equaling an annualized dividend rate of $0.55 per share) for the first quarter of 2018 to stockholders of record as of March 30, 2018, which will be paid on April 16, 2018. An equivalent distribution by the Operating Partnership is applicable per OP unit.

Preferred Stock Dividend

On February 21, 2018, the Company’s board of directors declared a monthly cash dividend to holders of the Series F Preferred Stock for April 2018 through June 2018 with respect to the periods included in the table below. The corresponding record and payment dates for each month's Series F Preferred Stock dividend are also shown in the table below. The dividend for the Series F Preferred Stock accrues daily on a 360-day annual basis equal to an annualized dividend rate of $1.675 per share, or $0.1395833 per 30-day month.



Period	Record Date	Payment Date
March 15, 2018 - April 14, 2018	April 1, 2018	April 16, 2018
April 15, 2018 - May 14, 2018	May 1, 2018	May 15, 2018
May 15, 2018 - June 14, 2018	June 1, 2018	June 15, 2018