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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 30, 1999
CABOT INDUSTRIAL TRUST
(Exact Name of Registrant as Specified in Charter)
Maryland 1-13829 04-3397866
(State or Other Jurisdiction Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Two Center Plaza, Suite 200
Boston, Massachusetts 02108
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (617) 723-0900
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
Cabot Industrial Trust's operating partnership, Cabot Industrial
Properties, L.P. completed a private sale of $65 million of 8.625% Series B
Cumulative Redeemable Perpetual Preferred Units at $50 per unit on April 30,
1999.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired.
Not applicable
(b) Pro Forma Financial Information.
Not applicable
(c) Exhibits.
Exhibit 99.1 - Press Release Announcing Issuance of 8.625% Series B
Cumulative Redeemable Perpetual Preferred Units
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CABOT INDUSTRIAL TRUST
Date: April 30, 1999 By: /s/ Neil E. Waisnor
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Neil E. Waisnor
Senior Vice President--Finance, Treasurer
and Secretary
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EXHIBIT 99.1
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NEWS BULLETIN
CABOT INDUSTRIAL TRUST
TWO CENTER PLAZA
SUITE 200
BOSTON, MA 02108
(NYSE:CTR)
FROM:
CABOT
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INDUSTRIAL
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AT THE COMPANY
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Franz Colloredo-Mansfeld
Chief Financial Officer
(617) 723-0900
FOR IMMEDIATE RELEASE
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April 30, 1999
CABOT INDUSTRIAL TRUST ANNOUNCES ISSUANCE OF $65 MILLION IN PERPETUAL PREFERRED
BOSTON, MA April 30, 1999 -- Cabot Industrial Trust (NYSE:CTR), announced today
that its operating partnership, Cabot Industrial Properties, L.P. completed a
private sale of $65 million of 8.625% Series B Cumulative Redeemable Perpetual
Preferred Units at $50 per unit. Proceeds of the offering will be used to reduce
outstanding balances under the partnerships's unsecured line of credit and for
general corporate purposes.
The Preferred Units, which may be called Cabot Industrial Trust at par on or
after April 29, 2004, have no stated maturity or mandatory redemption and are
not convertible into any other securities of the limited partnership.
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The Preferred Units were privately placed with institutional investors. Merrill
Lynch & Co. acted as exclusive placement agent.
On April 28, 1999 Cabot announced completion of a $200 million 5-year bond
offering; based on these financings, Cabot's debt to market capitalization
ratio currently stands at 27%.
Cabot Industrial Trust is a fully integrated real estate company, with offices
in Boston, Baltimore, Chicago, Cincinnati, Dallas, Los Angeles and Orlando, that
specializes in the ownership, acquisition, and development of industrial
properties, with 242 properties containing 30 million square feet in 21 states
at March 31, 1999. The Company also manages 10 million square feet of property
for investment advisory accounts. Cabot Industrial Trust focuses on a broad
spectrum of industrial property types nationwide including large bulk
distribution facilities, multitenant distribution facilities and workspace
properties.
In addition to historical information, this press release contains forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's current
expectations about their industry and the markets in which the Company operates.
Such forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties or other factors which may cause
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Actual operating results may be
affected by various factors including, without limitation, changes in national
and local economic conditions, competitive market conditions, uncertainties and
costs related to and the imposition of conditions on receipt of governmental
approvals and costs of material and labor, all of which may cause such actual
results to differ materially from what is expressed or forecast in this press
release.
To receive Cabot Industrial Trust's latest news release and other corporate
documents please send requests via e-mail at [email protected]
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or visit our web-site at www.cabottrust.com.
