CoreSite Announces Tax Treatment of 2016 Distributions

DENVER--(BUSINESS WIRE)-- CoreSite Realty Corporation (NYSE: COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., today announced the income tax allocation for federal income tax purposes of its 2016 distributions on its common and preferred stock. As shown in the tables below, both the common and preferred stock distributions allocable to tax year 2016 are 100% ordinary income.

Table 1. CoreSite Common Stock (NYSE:COR; CUSIP: 21870Q105)

Table 2. CoreSite Series A Cumulative Redeemable Preferred Stock (NYSE:CORprA; CUSIP: 21870Q204)

Under the tax rules applicable to real estate investment trusts such as CoreSite, a portion of the $0.80 per common share distribution at January 17, 2017 applies to tax year 2016 and a portion applies to tax year 2017.

CoreSite’s tax return for the year ended December 31, 2016, has not been filed. As a result, the income tax allocation for the distributions discussed above has been calculated using the best available information as of the date of this release.

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders on how distributions should be reported on their tax returns. Also note that state and local taxation of real estate investment trust distributions varies and may not be the same as the taxation under the federal rules. CoreSite encourages shareholders to consult with their own tax advisors as to their specific federal, state, and local income tax treatment of CoreSite distributions.

About CoreSite

CoreSite Realty Corporation (NYSE: COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,000 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 400+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: any adverse developments in local economic conditions or the demand for data center space in these markets; operational difficulties, including difficulties relating to information systems, internal processes and information security; significant industry competition; financial market fluctuations; and other factors affecting the real estate industry generally. All forward-looking statements reflect CoreSite's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, CoreSite disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause CoreSite's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in CoreSite's most recent annual report on Form 10-K, and other risks described in documents subsequently filed by CoreSite from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170123005330/en/

CoreSite
Greer Aviv, 303-405-1012
Vice President of Investor Relations and Media/Public Relations
[email protected]

Source: CoreSite Realty Corporation

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