Centerpoint (NYSE:CNT)
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CenterPoint Properties Trust (NYSE:CNT) ("CenterPoint")
announced today that its common shareholders approved the merger
proposal with a subsidiary of CalEast Global Logistics, a joint
venture between the California Public Employees' Retirement System and
LaSalle Investment Management. Approximately 35.2 million, or 72.1%,
of CenterPoint's outstanding common shares were voted. Of the total
outstanding common shares, approximately 71.8% voted in favor of the
merger proposal. CenterPoint's common shares and its 7.5% Series B
Convertible Redeemable Preferred Shares are expected to be delisted
upon the closing of the merger. The closing is expected to occur March
8, 2006.
About CenterPoint Properties Trust
CenterPoint is a publicly traded real estate investment trust
(REIT) and the largest industrial property company in the
1.4-billion-square-foot Chicago regional market. As of September 30,
2005, the Company owned approximately 38 million square feet and the
Company and its affiliates owned or controlled an additional 3,053
acres of land upon which approximately 44.1 million square feet could
be developed. The Company is focused on providing unsurpassed tenant
satisfaction and adding value to its shareholders through customer
driven management, investment, development and redevelopment of
warehouse, distribution, light manufacturing buildings and logistics
infrastructure.
Certain matters discussed in this press release are
forward-looking statements within the meaning of Federal securities
laws. There can be no assurance that future results will be achieved
and actual results could differ materially from forecasts and
estimates. Forward-looking statements in this press release include,
without limitation, statements relating to the anticipated closing
date of the transaction, and the possibility that any of the
conditions to closing, including those outside the control of
CenterPoint, will be satisfied. CenterPoint does not assure the future
results or outcome of the matters described in forward-looking
statements; rather, these statements merely reflect current
expectations of the approximate outcomes of the matters discussed.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, some of which are beyond
CenterPoint's control. The reader is cautioned to make his/her own
judgment with regard to the statements discussed in this press release
and the assumptions noted by CenterPoint herein.
Many factors may cause actual results to differ materially from
the anticipated future results or performance expressed or implied by
these forward-looking statements. Certain factors that could cause
actual results to differ materially are general business and economic
conditions, completion of pending acquisitions and dispositions,
competitive market conditions, weather, pricing of debt and equity
capital markets and other risks inherent in the real estate business.
Such factors and others are listed in the Company's Form 10-K and
10-Qs.