UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 7, 2011
June 7, 2011
CORNERSTONE CORE PROPERTIES REIT, INC.
(Exact name of registrant as specified in its charter)
| Maryland | 000-52566 | 73-1721791 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (I.R.S. Employer Identification Number) |
1920 Main Street, Suite 400
Irvine, CA 92614
Irvine, CA 92614
(Address of principal executive offices)
(949) 852-1007
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On June 7, 2011, we, through a wholly-owned subsidiary, became obligated under a purchase and
sale agreement (the “Agreement”) in connection with the disposition of 15172 Goldenwest Circle (the
“Facility”), by the Westminster Redevelopment agency (“Buyer”) a non-related party, for a purchase
price of approximately $9.4 million. Except with respect to specific contingencies, the buyer does
not have the right to terminate the agreement without our consent.
Under the terms of the Agreement, we are obligated to pay certain closing costs, including,
but not limited to attorney fees, certain title insurance premiums, survey costs, recording costs
and escrow charges. The disposition is anticipated to be completed in July 2011. Although most
contingencies have been satisfied and we expect to close in accordance with the terms of the
Agreement, there can be no assurance that remaining contingencies will be satisfied or that events
will not arise that could prevent us from disposing the property.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
| CORNERSTONE CORE PROPERTIES REIT, INC |
||||
| Dated: June 9, 2011 | By: | /s/ SHARON C. KAISER | ||
| Sharon C. Kaiser, Chief Financial Officer | ||||