City Office REIT, Inc. Announces Pricing of Upsized Public Offering of Common Stock

VANCOUVER, Jan. 10, 2017 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company"), announced today the upsizing and pricing of its underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $12.40 per share for total gross proceeds of $62.0 million.

The offering is expected to close on January 13, 2017, subject to the satisfaction of customary closing conditions.The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock.

The Company intends to use the net proceeds from the offering for the acquisition of office properties, the repayment of amounts outstanding under its secured credit facility and general working capital purposes, including funding future acquisitions and investments.

Raymond James is acting as the sole book-running manager for the offering. D.A. Davidson & Co., Janney Montgomery Scott, Wunderlich, Oppenheimer & Co. Inc. and Compass Point are acting as co-lead managers for the offering.

The offering may be made only by means of a prospectus supplement and accompanying prospectus.Copies of the prospectus and the prospectus supplement relating to the offering, when available, may be obtained by contacting Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, via telephone: (800) 248-8863 or via email: prospectus@raymondjames.com.

A registration statement relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission on May 18, 2015. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 an interest in 4.4 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward-looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws.All statements that are not statements of historical facts are, or may be deemed to be, forward looking statements.Forward looking statements reflect the Company's current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. These risks, uncertainties and other factors include factors described in the Company's news releases and filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2015, which has been filed with the Securities and Exchange Commission.Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements.The Company does not undertake any obligation to publicly update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.

Contact
City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com

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SOURCECity Office REIT, Inc.