VANCOUVER, Sept. 12, 2017 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office") announced today that it has completed its preliminary assessment at its Tampa and Orlando properties and they have incurred only minimal damage as a result of Hurricane Irma. The Company expects that all damage will be insurable under its insurance policies subject to a standard deductible.
"We are grateful that our tenants and our team is safe and that we only incurred minimal damage to our properties," stated James Farrar, Chief Executive Officer. "Early last week, we initiated our hurricane preparation procedures to reduce potential damage. Our team was well prepared and performed exceptionally well under challenging circumstances. All of our buildings are either open for business or are expected to open over the next few days as regional power is restored. We wish to thank the emergency responders and the citizens of these cities for their calm and prudent behaviors during a tense situation."
About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading markets in the Southern and Western United States. City Office currently owns or has a controlling interest in 4.4 million square feet of office properties. Additional information about City Office is available on the Company's website at www.cityofficereit.com. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
City Office REIT, Inc.
Anthony Maretic, CFO
SOURCE City Office REIT, Inc.
These press releases may also interest you