|[October 24, 2013]
Cornerstone Core Properties REIT, Inc. Changes Name to Summit Healthcare REIT, Inc.
IRVINE, Calif. --(Business Wire)--
Cornerstone Core Properties REIT, Inc. announced today that it has
changed its name to Summit Healthcare REIT, Inc. (the "Company" or "SH
REIT"). After a strategic repositioning of the Company's portfolio into
senior housing facilities, the new name is intended to better reflect SH
REIT's investment focus on healthcare real estate.
"With our focus 100% on healthcare, we believe that it is the right time
to change our company name to symbolize the start of this new chapter in
our story," said Kent Eikanas, President and Chief Operating Officer of
Summit Healthcare REIT, Inc.
"Our acquisitions over the last year have created a solid foundation
upon which to grow SH REIT. We are excited about our growth potential
and look forward to our future," said Timothy C. Collins, Chief
Financial Officer of Summit Healthcare REIT, Inc.
About Summit Healthcare RET, Inc.
SH REIT is a publicly registered non-traded REIT that is currently
focused on investing in senior housing real estate located throughout
the United States. The current portfolio includes one multi-tenant
industrial property and interests in 10 long-term triple net leased
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 Summit Healthcare REIT, Inc.
This release may contain forward-looking statements relating to the
business and financial outlook of Summit Healthcare 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 Company's
annual report on Form 10-K for the year ended December 31, 2012 and
quarterly reports for the periods ended March 31, 2013, and June 30,
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.
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