City Office REIT, Inc.: directors' dealings · United States · SEC (Form 4)

About City Office REIT, Inc.

City Office REIT, Inc. (NYSE: CIO) is a U.S.-listed office REIT focused on owning, operating, and acquiring high-quality office buildings in growth-oriented Sun Belt markets. The company was organized in Maryland in November 2013 and completed its initial public offering in April 2014. While its equity trades on the NYSE in the United States, the company’s corporate office is in Vancouver, British Columbia, and its operating footprint is concentrated in major metropolitan markets across the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1593222/000095017025023714/cio-20241231.htm?utm_source=openai)) City Office’s business model is straightforward: assemble and manage a portfolio of well-located office assets in markets where population growth, employment growth, and business formation can support long-term leasing demand. As of December 31, 2024, the company owned 56 office buildings totaling approximately 5.6 million net rentable square feet, with properties in Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle, and Tampa. Management emphasizes that it internally assets manages the portfolio while using local firms for property management and leasing, aiming to combine centralized control with local market expertise. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1593222/000095017025023714/cio-20241231.htm?utm_source=openai)) From a competitive standpoint, CIO is a Sun Belt office landlord rather than a broad diversified REIT. Its properties are described as well located, highly amenitized, and positioned near transportation access and established neighborhoods. The tenant mix includes federal and state government agencies as well as national and regional businesses, which can support lease diversification, although the company remains exposed to the structural headwinds facing office real estate, including higher financing costs, changing workplace patterns, and market-wide occupancy pressure. The company also highlights staggered lease expirations and rent escalation provisions, which are important supports for cash flow visibility. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1593222/000095017025023714/cio-20241231.htm?utm_source=openai)) Recent news is dominated by a strategic transaction. On July 24, 2025, City Office announced a definitive agreement to be sold for $7.00 per share in cash in a deal valued at approximately $1.1 billion, subject to customary closing conditions and shareholder approval. The company said the board unanimously approved the transaction and that future quarterly common dividends would be suspended until closing, which was expected in the fourth quarter of 2025. Prior to that announcement, the company reported full-year 2024 results and issued 2025 guidance that pointed to improving occupancy and positive same-store cash NOI growth. For investors, CIO is therefore best viewed as a U.S. NYSE-listed office REIT whose near-term equity story is now driven by the announced sale process rather than by standalone expansion. ([investors.cityofficereit.com](https://investors.cityofficereit.com/news-events/press-release/2025/City-Office-REIT-Enters-into-Definitive-Agreement-for-Sale-at-7-00-per-Share-of-Common-Stock-in-Transaction-Valued-at-Approximately-1-1-Billion/default.aspx?utm_source=openai))