City Office REIT, Inc.
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- City Office REIT, Inc. (NYSE: CIO) is an internally managed real estate investment trust focused on acquiring, owning and operating high-quality office properties predominantly in Sun Belt markets including Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa; its portfolio comprises approximately 4.2 million square feet of net rentable area across multiple Class A and Class AA assets such as Bloc 83 in downtown Raleigh, North Carolina, emphasizing urban live-work-play districts with strong economic fundamentals, high employment growth and amenitized settings. The company targets metropolitan areas in the Southern and Western United States, serving corporate tenants with long-term leases averaging over five years and generating revenue through rental income, operating expenses recovery and strategic asset management. Founded in 2013 and headquartered in Vancouver, British Columbia, Canada, with a U.S. office in Dallas, Texas, City Office REIT pursues growth via internal cash flow initiatives and targeted acquisitions while maintaining a controlling interest in its properties. In July 2025, the company entered into a definitive merger agreement with MCME Carell Holdings, LP and MCME Carell Merger Sub, LLC to sell all outstanding common shares for $7.00 per share in cash, valuing the transaction at approximately $1.1 billion; stockholders approved the merger on October 16, 2025, with closing anticipated in the fourth quarter of 2025 subject to customary conditions. Additionally, in August 2025, City Office completed the sale of a Phoenix office portfolio to Southwest Value Partners, including all properties except Pima Center.
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