EX-99.1
3
v348829_ex99-1.htm
EXHIBIT 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT
Juli Davenport
(877) 805-3333
jdavenport@crefunds.com
Cornerstone Core Properties REIT, Inc.
Acquires Assisted Living Facility
Irvine, Calif., (July 3, 2013)
-
Cornerstone Core Properties REIT, Inc. ("Core REIT") announced today that it acquired on July 2, 2013, a 66-unit assisted
living facility built in 2006 located in Aledo, Illinois for approximately $8.6 million. The facility has recently enjoyed an occupancy
rate at or above 95%.
The facility has been triple-net leased
to an affiliate of Meridian Senior Living, LLC ("Meridian"), the new operator of the facility, pursuant to a fifteen-year
term. Meridian currently operates more than 100 facilities in 12 states, including one of the facilities Core REIT closed on earlier
this year as well as others in Illinois.
"We are very pleased to add another
property to our Meridian Senior Living portfolio", said Kent Eikanas, President and Chief Operating Officer of Cornerstone
Core Properties REIT, Inc.
About Cornerstone Core Properties REIT,
Inc.
Core REIT is a publicly registered non-traded
REIT that currently invests in senior housing real estate located throughout the United States. Since its commencement in 2006,
Core REIT has acquired twenty properties for a total purchase price of $194.2 million. Since 2011, six of those properties have
been sold. The current portfolio includes seven multi-tenant industrial properties and seven long-term triple net leased healthcare
facilities.
For more information, please contact Juli
Davenport at (877) 805-3333.
This material does not constitute an
offer to sell or a solicitation of an offer to buy Cornerstone Core Properties REIT, Inc.
This release may contain forward-looking
statements relating to the business and financial outlook of Cornerstone Core Properties REIT, Inc. that are based on our current
expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially
from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number
of important factors could cause actual results to differ materially from any forward-looking statements contained in this release.
Such factors include those described in the Risk Factors sections of the Cornerstone Core Properties REIT, Inc.'s annual
report on Form 10-K for the year ended December 31, 2012 and quarterly reports for the periods ended March 31, 2013. Forward-looking
statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update
any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.
CL0325 07/13
###

EX - 99 . 1 3 v348829 _ ex99 - 1 . htm EXHIBIT 99 . 1 NEWS RELEASE FOR IMMEDIATE RELEASE CONTACT Juli Davenport ( 877 ) 805 - 3333 jdavenport@crefunds.com Cornerstone Core Properties REIT , Inc . Acquires Assisted Living Facility Irvine , Calif . , ( July 3 , 2013 ) - Cornerstone Core Properties REIT , Inc . ( " Core REIT " ) announced today that it acquired on July 2 , 2013 , a 66 - unit assisted living facility built in 2006 located in Aledo , Illinois for approximately $ 8.6 million . The facility has recently enjoyed an occupancy rate at or above 95 % . The facility has been triple - net leased to an affiliate of Meridian Senior Living , LLC ( " Meridian " ) , the new operator of the facility , pursuant to a fifteen - year term . Meridian currently operates more than 100 facilities in 12 states , including one of the facilities Core REIT closed on earlier this year as well as others in Illinois . " We are very pleased to add another property to our Meridian Senior Living portfolio " , said Kent Eikanas , President and Chief Operating Officer of Cornerstone Core Properties REIT , Inc . About Cornerstone Core Properties REIT , Inc . Core REIT is a publicly registered non - traded REIT that currently invests in senior housing real estate located throughout the United States . Since its commencement in 2006 , Core REIT has acquired twenty properties for a total purchase price of $ 194.2 million . Since 2011 , six of those properties have been sold . The current portfolio includes seven multi - tenant industrial properties and seven long - term triple net leased healthcare facilities . For more information , please contact Juli Davenport at ( 877 ) 805 - 3333 . This material does not constitute an offer to sell or a solicitation of an offer to buy Cornerstone Core Properties REIT , Inc . This release may contain forward - looking statements relating to the business and financial outlook of Cornerstone Core Properties REIT , Inc . that are based on our current expectations , estimates , forecasts and projections and are not guarantees of future performance . Actual results may differ materially from those expressed in these forward - looking statements , and you should not place undue reliance on any such statements . A number of important factors could cause actual results to differ materially from any forward - looking statements contained in this release . Such factors include those described in the Risk Factors sections of the Cornerstone Core Properties REIT , Inc . ' s annual report on Form 10 - K for the year ended December 31 , 2012 and quarterly reports for the periods ended March 31 , 2013 . Forward - looking statements in this document speak only as of the date on which such statements were made , and we undertake no obligation to update any such statements that may become untrue because of subsequent events . We claim the safe harbor protection for forward - looking statements contained in the Private Securities Litigation Reform Act of 1995 . CL0325 07 / 13 # # #