EX-99.1
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v356895_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 Three Assisted Living Facilities
Irvine, Calif., (October 8, 2013)
- Cornerstone Core Properties REIT, Inc. ("Core REIT") announced today that it acquired on October 4, 2013, three
assisted living facilities in North Carolina for a purchase price of approximately $15.3 million.
The three facilities acquired include Carteret
House in Newport, N.C., a 29,570 square foot facility with 64 beds built in 1994; Hamlet House in Hamlet, N.C., a 34,638 square
foot facility with 60 beds built in 1999; and Shelby House in Shelby, N.C., a 23,074 square foot facility with 64 beds built in
1991.
The facilities were acquired through a
sale/leaseback transaction with wholly-owned subsidiaries of Meridian Senior Living, LLC ("Meridian"). Meridian will
continue to operate the facilities pursuant to 15-year triple net leases. Meridian currently operates more than 120 facilities
with over 4,400 units located throughout 12 states, including 44 facilities in North Carolina and two other facilities owned by
Core REIT.
"We have enjoyed the growth with
Meridian and look forward to continued growth", said Kent Eikanas, President and Chief Operating Officer of Cornerstone Core
Properties REIT, Inc.
"Cornerstone and Meridian both bring
a commitment to excellence and a history of success to our joint venture. The folks at Cornerstone are among the best in
their industry, and we are looking forward to working these outstanding professionals", said Charlie Trefzger, Chief Executive
Officer, Meridian Senior Living, LLC.
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 23 properties for a total purchase price of $209.5 million. Since 2011, 12 of those properties have been
sold. The current portfolio includes one multi-tenant industrial property and 10 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.
CL0329 10/13

EX - 99 . 1 2 v356895 _ 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 Three Assisted Living Facilities Irvine , Calif . , ( October 8 , 2013 ) - Cornerstone Core Properties REIT , Inc . ( " Core REIT " ) announced today that it acquired on October 4 , 2013 , three assisted living facilities in North Carolina for a purchase price of approximately $ 15.3 million . The three facilities acquired include Carteret House in Newport , N . C . , a 29,570 square foot facility with 64 beds built in 1994 ; Hamlet House in Hamlet , N . C . , a 34,638 square foot facility with 60 beds built in 1999 ; and Shelby House in Shelby , N . C . , a 23,074 square foot facility with 64 beds built in 1991 . The facilities were acquired through a sale / leaseback transaction with wholly - owned subsidiaries of Meridian Senior Living , LLC ( " Meridian " ) . Meridian will continue to operate the facilities pursuant to 15 - year triple net leases . Meridian currently operates more than 120 facilities with over 4,400 units located throughout 12 states , including 44 facilities in North Carolina and two other facilities owned by Core REIT . " We have enjoyed the growth with Meridian and look forward to continued growth " , said Kent Eikanas , President and Chief Operating Officer of Cornerstone Core Properties REIT , Inc . " Cornerstone and Meridian both bring a commitment to excellence and a history of success to our joint venture . The folks at Cornerstone are among the best in their industry , and we are looking forward to working these outstanding professionals " , said Charlie Trefzger , Chief Executive Officer , Meridian Senior Living , LLC . 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 23 properties for a total purchase price of $ 209.5 million . Since 2011 , 12 of those properties have been sold . The current portfolio includes one multi - tenant industrial property and 10 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 . CL0329 10 / 13