CCPT IV Overview

CCPT IV closed to new subscriptions February 2014.

Cole Credit Property Trust IV, Inc. is a public, non-listed REIT that invests primarily in income-producing, necessity single-tenant retail properties and anchored shopping centers subject to long-term net leases with national or regional creditworthy tenants. The landlord of where America shops®.

Portfolio Overview

$5.1 Billion

Purchase Price


26.8 Million Square Feet

Retail Real Estate


908

Properties

45

States


97.5% Occupied

Property Type Diversification

CCPT IV Property Type Diversification

Geographic Diversification

Shown by NCREIF region

CCPT IV Geographic Diversification

584 Tenant Concepts

Top Five Tenants and Tenant Credit Rating1

Walgreens Logo
S&P: BBB 6.1%
Dollar General Logo
S&P: BBB 4.5%
Family-Dollar-logo
S&P: BB+ 3.9%
United-Oil-logo
S&P: NR 3.6%
Lowes Small Logo
S&P: A- 3.5%

35 Industry Sectors

Top Five Industries

Retail - Discount 14.4%
Retail - Pharmacy 9.7%
Retail - Sporting Goods 8.7%
Retail - Home and Garden 8.5%
Retail - Gas and Convenience 7.3%

Tenant Lease Maturity

Weighted Average Remaining Lease Term

9.8 Years

CCPT IV Tenant Lease Maturity

All data as of 09/30/2017 unless otherwise specified, calculations are based on annualized rental revenue. Dollar amounts and square footages for all properties are approximate and include the square feet of buildings that are on land subject to ground leases.

1) The tenant credit ratings represent the creditworthiness of the lessee as of 09/30/2017, the current rating may be higher or lower than the rating shown and are not associated with CCPT IV or its shares.

CCPT IV Offering Summary

CCPT IV closed to new subscriptions February 2014.

Current Pricing (as of 03/30/2018)

Estimated Per Share
Net Asset Value (NAV)

$9.37


Distribution Reinvestment Price

$9.37

Pricing History

The initial Price to Public as of 04/14/2012 was not based on an estimated net asset value, includes any applicable per share up-front selling commissions and dealer manager fees, and assumes no purchase price discounts. After 08/31/2015, the estimated per share NAV is determined and approved by CCPT IV’s Board of Directors based on the recommendation of its valuation committee, which is comprised solely of independent directors, including the independent Chairman of the Board. The estimated per share NAV is based upon the estimated market value of CCPT IV’s assets, less the estimated mar ket value of the Company’s liabilities, divided by the total shares outstanding, and was performed in accordance with the valuation guidelines established by the Investment Program Association (IPA) Practice Guideline 2013-01, Valuations of Publicly Registered Non-Listed REITs. In accordance with FINRA’s customer account statement rules and the IPA guidelines, the Board intends to determine an updated estimated per share NAV on at least an annual basis.

CCPT IV Properties

CCPT IV closed to new subscriptions February 2014.

CCPT IV Property Search

Corporate Governance

CCPT IV Board of Directors

  • T. Patrick Duncan

    T. Patrick Duncan

    Non-Executive Chairman of the Board of Directors (Independent Director)
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    T. Patrick Duncan has served as an Independent Director of the Board of CCPT IV since September 2015 and as the Non-Executive Chairman of the Board since November 2015. Mr. Duncan also served as a member of the Board of Directors of Cole Real Estate Income Strategy (Daily NAV), Inc. from August 2013 until September 2015. For 27 years, Mr. Duncan served in various roles at USAA Real Estate Company, a private real estate investment company, most recently as its Chief Executive Officer from January 2005 until he retired in May 2013. Mr. Duncan also served as Vice Chairman of the Board of Directors of USAA Real Estate Company and as a Director of United Lender Services, a USAA company, from his retirement in May 2013 until December 2015. Prior to serving as Chief Executive Officer, Mr. Duncan held the position of Senior Vice President, Real Estate Operations with USAA Real Estate, with responsibilities that included the direction of all acquisitions, sales, co-investments, build-to-suits, land development, capital markets, management and leasing of real estate. Before joining USAA Real Estate in 1986, Mr. Duncan was with Trammell Crow Company in Dallas, TX with responsibilities as a Financial Partner of the firm. Prior to that, Mr. Duncan was a Manager with Deloitte & Touche. Mr. Duncan previously served on the boards of Meridian Industrial Trust, a former New York Stock Exchange-listed REIT, from 1994 to 1998, American Industrial Properties REIT, a former New York Stock Exchange-listed REIT, from 1996 to 2001, and Square Mile Capital Management, LLC, a diversified real estate investment firm, from 2012 to 2014. Mr. Duncan currently serves on the board of the Texas Research and Technology Foundation. Mr. Duncan received a degree from the University of Arizona and is a Certified Public Accountant and Certified Commercial Investment Member, and holds a Texas Real Estate Broker’s License.

  • Lawrence S. Jones

    Lawrence S. Jones

    Independent Director and Audit Chair
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    Lawrence S. Jones has served as an Independent Director of the Board and as Chair of the Audit Committee of CCPT IV since March 2012. Mr. Jones served as the Managing Director of Encore Enterprises, Inc. – Equity Funds, a real estate development company, from August 2008 to April 2010. Previously, he served as a Senior Audit Partner with PricewaterhouseCoopers LLP from September 1999 to July 2007, where he was the financial services industry leader for the Dallas and Houston markets from September 1999 to July 2006, and the firm’s representative to the Board of Governors of the National Association of Real Estate Investment Trusts from 1999 to 2007. Prior to joining PricewaterhouseCoopers, Mr. Jones served from March 1998 to June 1999 as Executive Vice President and treasurer of Wyndham International, Inc., an upscale and luxury hotel operating company. Mr. Jones began his career in 1972 at Coopers & Lybrand, a predecessor of PricewaterhouseCoopers, and served as the Partner in Charge of Coopers & Lybrand’s national REIT practice from 1992 until March 1998. From July 1982 to June 1984, Mr. Jones served as a Professional Accounting Fellow with the Office of the Chief Accountant of the Securities and Exchange Commission in Washington, D.C. Mr. Jones has previously served as a Director of the Dallas Arts District Alliance and is currently a member of the Dallas Park and Recreation Board, the National Association of Corporate Directors, NAREIT, the Urban Land Institute and the American Institute of Certified Public Accountants. Mr. Jones is a Past-President of the Haas School of Business Alumni Association (University of California at Berkeley). He served as an Independent Director of Moody National REIT I, Inc. from March 2010 to February 2012. Mr. Jones received a B.A. degree in Economics and Corporate Finance from the University of California at Berkeley and a Master’s Degree in Corporate Finance from the UCLA Anderson School of Management.

  • Alicia K. Harrison

    Alicia K. Harrison

    Independent Director
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    Alicia K. Harrison has served as an Independent Director of the Board of CCPT IV since June 2016. Previously, Ms. Harrison worked for Wells Fargo & Company and its predecessor banks from 1986 until 2012, when she retired as Executive Vice President in Commercial Banking. Her positions at Wells Fargo included Area Manager and Group Head for Southwest Regional Commercial Banking Office, as well as Manager of the Real Estate Department and Integration Team Member for the Government and Institutional Banking Group, responsible for integrating the employees and clients of Wachovia Corporation following its acquisition by Wells Fargo in 2008. Prior to joining Wells Fargo, Ms. Harrison began her banking career in Houston with a predecessor bank of JPMorgan Chase &. Co. as a banker in the Energy Division after completing the Commercial Training program. Ms. Harrison has served on the Board of Directors and the Audit and Capital Committees of Ryan Companies US, Inc., a national commercial real estate development, design and management company, since May 2012. Ms. Harrison is a Life Member of the Arizona State University Sun Angel Foundation, and previously served as a trustee of the Sun Angel Foundation and on the Boards of Directors of the Fresh Start Women’s Foundation, the Greater Phoenix Economic Council, the Phoenix Art Museum, the Arizona Chapter of the American Red Cross, the Arizona Business Leadership Association and the Arizona Science Center. Ms. Harrison received a B.S. degree in Finance from Arizona State University and has completed postgraduate courses with the London School of Economics, City of London University Banking and the University of Southern California’s London Graduate School Program.

  • T. Patrick Duncan has served as an Independent Director of the Board of CCPT IV since September 2015 and as the Non-Executive Chairman of the Board since November 2015. Mr. Duncan also served as a member of the Board of Directors of Cole Real Estate Income Strategy (Daily NAV), Inc. from August 2013 until September 2015. For 27 years, Mr. Duncan served in various roles at USAA Real Estate Company, a private real estate investment company, most recently as its Chief Executive Officer from January 2005 until he retired in May 2013. Mr. Duncan also served as Vice Chairman of the Board of Directors of USAA Real Estate Company and as a Director of United Lender Services, a USAA company, from his retirement in May 2013 until December 2015. Prior to serving as Chief Executive Officer, Mr. Duncan held the position of Senior Vice President, Real Estate Operations with USAA Real Estate, with responsibilities that included the direction of all acquisitions, sales, co-investments, build-to-suits, land development, capital markets, management and leasing of real estate. Before joining USAA Real Estate in 1986, Mr. Duncan was with Trammell Crow Company in Dallas, TX with responsibilities as a Financial Partner of the firm. Prior to that, Mr. Duncan was a Manager with Deloitte & Touche. Mr. Duncan previously served on the boards of Meridian Industrial Trust, a former New York Stock Exchange-listed REIT, from 1994 to 1998, American Industrial Properties REIT, a former New York Stock Exchange-listed REIT, from 1996 to 2001, and Square Mile Capital Management, LLC, a diversified real estate investment firm, from 2012 to 2014. Mr. Duncan currently serves on the board of the Texas Research and Technology Foundation. Mr. Duncan received a degree from the University of Arizona and is a Certified Public Accountant and Certified Commercial Investment Member, and holds a Texas Real Estate Broker’s License.

  • Lawrence S. Jones has served as an Independent Director of the Board and as Chair of the Audit Committee of CCPT IV since March 2012. Mr. Jones served as the Managing Director of Encore Enterprises, Inc. – Equity Funds, a real estate development company, from August 2008 to April 2010. Previously, he served as a Senior Audit Partner with PricewaterhouseCoopers LLP from September 1999 to July 2007, where he was the financial services industry leader for the Dallas and Houston markets from September 1999 to July 2006, and the firm’s representative to the Board of Governors of the National Association of Real Estate Investment Trusts from 1999 to 2007. Prior to joining PricewaterhouseCoopers, Mr. Jones served from March 1998 to June 1999 as Executive Vice President and treasurer of Wyndham International, Inc., an upscale and luxury hotel operating company. Mr. Jones began his career in 1972 at Coopers & Lybrand, a predecessor of PricewaterhouseCoopers, and served as the Partner in Charge of Coopers & Lybrand’s national REIT practice from 1992 until March 1998. From July 1982 to June 1984, Mr. Jones served as a Professional Accounting Fellow with the Office of the Chief Accountant of the Securities and Exchange Commission in Washington, D.C. Mr. Jones has previously served as a Director of the Dallas Arts District Alliance and is currently a member of the Dallas Park and Recreation Board, the National Association of Corporate Directors, NAREIT, the Urban Land Institute and the American Institute of Certified Public Accountants. Mr. Jones is a Past-President of the Haas School of Business Alumni Association (University of California at Berkeley). He served as an Independent Director of Moody National REIT I, Inc. from March 2010 to February 2012. Mr. Jones received a B.A. degree in Economics and Corporate Finance from the University of California at Berkeley and a Master’s Degree in Corporate Finance from the UCLA Anderson School of Management.

  • Alicia K. Harrison has served as an Independent Director of the Board of CCPT IV since June 2016. Previously, Ms. Harrison worked for Wells Fargo & Company and its predecessor banks from 1986 until 2012, when she retired as Executive Vice President in Commercial Banking. Her positions at Wells Fargo included Area Manager and Group Head for Southwest Regional Commercial Banking Office, as well as Manager of the Real Estate Department and Integration Team Member for the Government and Institutional Banking Group, responsible for integrating the employees and clients of Wachovia Corporation following its acquisition by Wells Fargo in 2008. Prior to joining Wells Fargo, Ms. Harrison began her banking career in Houston with a predecessor bank of JPMorgan Chase &. Co. as a banker in the Energy Division after completing the Commercial Training program. Ms. Harrison has served on the Board of Directors and the Audit and Capital Committees of Ryan Companies US, Inc., a national commercial real estate development, design and management company, since May 2012. Ms. Harrison is a Life Member of the Arizona State University Sun Angel Foundation, and previously served as a trustee of the Sun Angel Foundation and on the Boards of Directors of the Fresh Start Women’s Foundation, the Greater Phoenix Economic Council, the Phoenix Art Museum, the Arizona Chapter of the American Red Cross, the Arizona Business Leadership Association and the Arizona Science Center. Ms. Harrison received a B.S. degree in Finance from Arizona State University and has completed postgraduate courses with the London School of Economics, City of London University Banking and the University of Southern California’s London Graduate School Program.

  • Brian Kretzmer

    Brian Kretzmer

    Independent Director
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    Brian Kretzmer has served as an independent director since February 2018. Mr. Kretzmer is a 30-year veteran in technology industries. He currently operates his own consultancy practice and is an investor in several private firms where he serves in multiple capacities. From 1999 to 2006, Mr. Kretzmer was Chief Executive Officer of MAI Systems Corporation (which operated principally through its subsidiary Hotel Information Systems), a provider of enterprise management solutions for lodging organizations. He also served as Chief Financial Officer of MAI Systems Corporation from 1993 to 1996 and 1999 to 2000. Additionally, Mr. Kretzmer has served as a director of j2 Global, Inc. since July 2007. Mr. Kretzmer holds a B.A. from Montclair State University and an M.B.A. from Farleigh Dickinson University.

  • Richard Ressler

    Richard Ressler

    CEO and Director
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    Mr. Ressler is the founder and President of Orchard Capital Corp. ("Orchard Capital"), a firm through which Mr. Ressler oversees companies in which Orchard Capital or its affiliates invest. Through his affiliation with Orchard Capital, Mr. Ressler serves in various senior capacities with, among others, CIM Group, LLC (together with its controlled affiliates, "CIM"), a vertically-integrated owner and operator of real assets, Orchard First Source Asset Management (together with its controlled affiliates, "OFSAM"), a full-service provider of capital and leveraged finance solutions to U.S. corporations, and OCV Management, LLC (“OCV”), an investor, owner and operator of technology companies. Mr. Ressler also serves as a board member for various public and private companies in which Orchard Capital or its affiliates invest, including as chairman of j2 Global, Inc. (NASDAQ "JCOM"), director of Presbia PLC (NASDAQ “LENS”), and chairman of CIM Commercial Trust Corporation (NASDAQ “CMCT”). Mr. Ressler served as Chairman and CEO of JCOM from 1997 to 2000 and, through an agreement with Orchard Capital, currently serves as its non-executive Chairman. Mr. Ressler has served as a director of LENS since January 2015 and as chairman of CMCT since 2014.

    Mr. Ressler co-founded CIM in 1994 and, through an agreement with Orchard Capital, chairs its executive, investment, allocation and asset management committees and serves on its credit committee. CIM Investment Advisors, LLC, an affiliate of CIM, is registered with the United States Securities and Exchange Commission as a registered investment adviser.

    Mr. Ressler co-founded the predecessor of OFSAM in 2001 and, through an agreement with Orchard Capital, chairs its executive committee. OFS Capital Management, LLC, an affiliate of OFSAM, is registered with the United States Securities and Exchange Commission as a registered investment adviser.

    Mr. Ressler co-founded OCV in 2016 and, through an agreement with Orchard Capital, chairs its executive committee. OCV is a relying adviser of OFS Capital Management, LLC.

    Prior to founding Orchard Capital, from 1988 until 1994, Mr. Ressler served as Vice Chairman of Brooke Group Limited, the predecessor of Vector Group, Ltd. (NYSE "VGR") and served in various executive capacities at VGR and its subsidiaries. Prior to VGR, Mr. Ressler was with Drexel Burnham Lambert, Inc., where he focused on merger and acquisition transactions and the financing needs of middle-market companies. Mr. Ressler began his career in 1983 with Cravath, Swaine and Moore, working on public offerings, private placements, and merger and acquisition transactions. Mr. Ressler holds a B.A. from Brown University, and J.D. and M.B.A. degrees from Columbia University.

  • Brian Kretzmer has served as an independent director since February 2018. Mr. Kretzmer is a 30-year veteran in technology industries. He currently operates his own consultancy practice and is an investor in several private firms where he serves in multiple capacities. From 1999 to 2006, Mr. Kretzmer was Chief Executive Officer of MAI Systems Corporation (which operated principally through its subsidiary Hotel Information Systems), a provider of enterprise management solutions for lodging organizations. He also served as Chief Financial Officer of MAI Systems Corporation from 1993 to 1996 and 1999 to 2000. Additionally, Mr. Kretzmer has served as a director of j2 Global, Inc. since July 2007. Mr. Kretzmer holds a B.A. from Montclair State University and an M.B.A. from Farleigh Dickinson University.

  • Mr. Ressler is the founder and President of Orchard Capital Corp. ("Orchard Capital"), a firm through which Mr. Ressler oversees companies in which Orchard Capital or its affiliates invest. Through his affiliation with Orchard Capital, Mr. Ressler serves in various senior capacities with, among others, CIM Group, LLC (together with its controlled affiliates, "CIM"), a vertically-integrated owner and operator of real assets, Orchard First Source Asset Management (together with its controlled affiliates, "OFSAM"), a full-service provider of capital and leveraged finance solutions to U.S. corporations, and OCV Management, LLC (“OCV”), an investor, owner and operator of technology companies. Mr. Ressler also serves as a board member for various public and private companies in which Orchard Capital or its affiliates invest, including as chairman of j2 Global, Inc. (NASDAQ "JCOM"), director of Presbia PLC (NASDAQ “LENS”), and chairman of CIM Commercial Trust Corporation (NASDAQ “CMCT”). Mr. Ressler served as Chairman and CEO of JCOM from 1997 to 2000 and, through an agreement with Orchard Capital, currently serves as its non-executive Chairman. Mr. Ressler has served as a director of LENS since January 2015 and as chairman of CMCT since 2014.

    Mr. Ressler co-founded CIM in 1994 and, through an agreement with Orchard Capital, chairs its executive, investment, allocation and asset management committees and serves on its credit committee. CIM Investment Advisors, LLC, an affiliate of CIM, is registered with the United States Securities and Exchange Commission as a registered investment adviser.

    Mr. Ressler co-founded the predecessor of OFSAM in 2001 and, through an agreement with Orchard Capital, chairs its executive committee. OFS Capital Management, LLC, an affiliate of OFSAM, is registered with the United States Securities and Exchange Commission as a registered investment adviser.

    Mr. Ressler co-founded OCV in 2016 and, through an agreement with Orchard Capital, chairs its executive committee. OCV is a relying adviser of OFS Capital Management, LLC.

    Prior to founding Orchard Capital, from 1988 until 1994, Mr. Ressler served as Vice Chairman of Brooke Group Limited, the predecessor of Vector Group, Ltd. (NYSE "VGR") and served in various executive capacities at VGR and its subsidiaries. Prior to VGR, Mr. Ressler was with Drexel Burnham Lambert, Inc., where he focused on merger and acquisition transactions and the financing needs of middle-market companies. Mr. Ressler began his career in 1983 with Cravath, Swaine and Moore, working on public offerings, private placements, and merger and acquisition transactions. Mr. Ressler holds a B.A. from Brown University, and J.D. and M.B.A. degrees from Columbia University.

Important Documents

Code of Ethics

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The Board of Directors (the "Board") of Cole Credit Property Trust IV, Inc. ("CCPT IV") (the "Company") has adopted a Code of Ethics for its Principal Executive Officer and Senior Financial Officers (the "Code") to promote honest and ethical conduct, proper disclosure of financial information in the Company’s periodic reports, compliance with applicable laws, rules and regulations, and the prompt reporting of violations of the Code.

Audit Committee Charter

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The Board has appointed an Audit Committee to represent and assist the Board in its responsibilities relating to the accounting, reporting and financial practices and legal compliance of the Company and its subsidiaries. The Audit Committee has general responsibility for oversight of the accounting and financial processes of the Company and its subsidiaries, including oversight of the integrity of the Company’s financial statements, the Company’s compliance with legal and regulatory requirements, the qualification and independence of the Company’s auditors, and the performance of the Company’s internal audit function and independent auditors. Additionally, the Audit Committee is tasked with encouraging continuous improvement of, and fostering adherence to, the Company’s policies, procedures and practices at all levels, and providing an open avenue of communication among the Company’s independent auditors, financial and senior management, members of the internal auditing team and the Board.

Whistleblower Policy

View Document

The Company has adopted policies and procedures relating to the handling of whistleblower complaints regarding accounting, internal accounting controls or auditing matters and, through its external advisor, has established a third party hosted website at www.cimgroup.ethicspoint.com and secure telephone number at (855) 832-5558, to give employees the opportunity to anonymously and confidentially submit such complaints.

CCPT IV SEC Filings
The properties shown on this page are owned by CCPT IV.