Properties Archive | Griffin Realty Trust Portfolio. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. Therefore, FFO and MFFO should not be viewed as more prominent a measure of performance than income (loss) from operations, net income (loss) or to cash flows from operating activities and each should be reviewed in connection with GAAP measurements. All Rights Reserved. This website uses cookies so that we can provide you with the best user experience possible. MFFO also allows for a comparison of the performance of our portfolio with other REITs that are not currently engaging in acquisitions, as well as a comparison of our performance with that of other non-traded REITs, as MFFO, or an equivalent measure, is routinely reported by non-traded REITs, and we believe often used by analysts and investors for comparison purposes. Dividend Stocks Directory; Monthly Dividend Directory; REIT Directory; Preferred Stocks; Preferred Stocks Alphabetically; UTILITY STOCKS; Email Alerts; Dividend Detector. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. We look beyond an assets long-term, bond-like cash flow to understand fully the intrinsic value of the underlying real estate now and in the future. The use of MFFO as a measure of long-term operating performance on value is also limited if we do not continue to operate under our current business plan as noted above. provides additional information that Griffin Capital and its affiliates believe may be of EL SEGUNDO, Calif., March 26, 2015 (GLOBE NEWSWIRE) -- Griffin Capital Essential Asset REIT, Inc. (the "Essential Asset REIT," "we," "us," "our") announced today its operating results for the year ended December 31, 2014. Investors should note, however, that determinations of whether impairment charges have been incurred are based partly on anticipated operating performance, because estimated undiscounted future cash flows from a property, including estimated future net rental and lease revenues, net proceeds on the sale of the property, and certain other ancillary cash flows, are taken into account in determining whether an impairment charge has been incurred. Modified funds from operations, or MFFO, to common stockholders as defined by the Investment Program Association (IPA), was approximately $63.3 million for the year, representing year-over-year growth of approximately 231%. About Griffin Capital Essential Asset REIT II and Griffin Capital Corporation Griffin Capital Essential Asset REIT II, Inc. is a publicly registered non-traded REIT with a portfolio that currently includes 10 office properties totaling approximately 2. 0 million rentable square feet and asset value of over $328 million. Real-time analyst ratings, insider transactions, earnings data, and more. Additionally, publicly registered, non-listed REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. Type a symbol or company name. The property is leased, on a triple-net basis, to General Electric Company, obligating GE to all operating and maintenance expenses and certain capital expenditures. Fastest Corvette ever is all-wheel-drive gas-electric hybrid, Mullen Automotive - Short Squeeze is Possible - Not Inevitable, PepsiCo or Coke? UnitedHealth Group Stock: Is This The Bottom? Griffin Capital Essential Asset REIT, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. Is Dividend King PPG Industries A Buy Before Earnings? We view fair value adjustments of derivatives, impairment charges and gains and losses from dispositions of assets as non-recurring items or items which are unrealized and may not ultimately be realized, and which are not reflective of on-going operations and are therefore typically adjusted for when assessing operating performance. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) As of 08:06AM EST. More specifically, MFFO isolates the financial results of the REIT's operations. No less frequently than annually, we evaluate events and changes in circumstances that could indicate that the carrying amounts of real estate and related intangible assets may not be recoverable. Further, since the measure is based on historical financial information, MFFO for the period presented may not be indicative of future results or our future ability to pay our dividends. All Rights Reserved. Griffin Capital Company uses cookies and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that Register for your free account today atdata.nasdaq.com. It should be noted, however, that other REITs may not define FFO in accordance with the current NAREIT definition or may interpret the current NAREIT definition differently than we do, making comparisons less meaningful. On February 19, 2015, we acquired a property consisting of two four-story office buildings located in West Chester, Ohio, with a total of 409,800 square feet. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Insulet Has Potential To Gain More Than Analysts Are Forecasting. In evaluating the performance of our portfolio over time, management employs business models and analyses that differentiate the costs to acquire investments from the investments' revenues and expenses. As straight-line rent is a GAAP non-cash adjustment and is included in historical earnings, FFO is adjusted for the effect of straight-line rent to arrive at MFFO as a means of determining operating results of our portfolio. The unsecured credit facility is priced based on our leverage ratio reported each quarter, which pricing scale ranges from 1.45% to 2.35% plus the LIBO Rate. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). As of December 31, 2014 SOR had 20,473,024 shares of common stock outstanding. 2 Total capitalization includes the outstanding debt balance, plus total equity raised in our public offering and operating partnership units issued. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Management believes that excluding these costs from MFFO provides investors with supplemental performance information that is consistent with the performance models and analysis used by management. Griffin Capital Essential Asset REIT, Inc. - AMENDMENT TO GRIFFIN CAPITAL NET LEASE REIT, INC. DEALER MANAGER AGREEMENT AND PARTICIPATING DEALER AGREEMENT - EX-1.1 - February 15, 2013. What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock price today? El Segundo, Calif. (December 20, 2018) Griffin Capital Company, LLC (Griffin Capital), a leading private investment firm and one of the nations premier alternative Financed termination fee. How do I buy shares of Griffin Capital Essential Asset REIT II, Inc. Class E Shares? Our daily ratings and market update email newsletter. ", About Griffin Capital Essential Asset REIT and Griffin Capital Corporation. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Invest Like a Pro with Unique Data & Simplifed Tools, Make informed decisions based on Top Analysts' activity, Get actionable alerts from top Wall Street Analysts, Find out before anyone else which stock is going to shoot up, Get powerful stock screeners & detailed portfolio analysis. Type a symbol or company name. In order to provide a more complete understanding of the operating performance of a REIT, the National Association of Real Estate Investment Trusts ("NAREIT") promulgated a measure known as funds from operations ("FFO"). Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. The terms of the unsecured credit agreement allow for $500 million in additional commitments, up to $1.25 billion, which can increase the unsecured revolving credit facility, the unsecured term loan or a combination of both. Fundamental Data provided by DividendInvestor.com. If you disable this cookie, we will not be able to save your preferences. REITs with enhanced scale and experienced internal management are viewed more favorably by institutional investors and lenders, enhancing the REITs potential liquidity optionality and value to shareholders, said Michael J. Escalante, CEO and President of GCEAR and President of GCEAR II. As of December 31, 2014, total acquisition value and portfolio square footage increased by approximately 58% and 44%, respectively, since December 31, 2013. The joint venture will own a data center facility located in Ashburn, VA, consisting of approximately 132,000 square feet, which is fully leased to a social media company and a financial services company with an average remaining lease term of 8 years. The New Energy Crisis No One Saw Coming (Ad), Apple, Amazon, and Walmart are Investing in Solar Energy (Ad). 1-202-739-9400 There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. In accordance with GAAP, these periodic minimum rent payment increases during the term of a lease are recorded to rental revenue on a straight-line basis in order to reconcile the difference between accrual and cash basis accounting. AND the Best Way To Invest in Dividend Stocks, Top 20 Living Economist Dr. Mark Skousen, Quickly find stocks on the NYSE, NASDAQ and more. Nelson Mullins Riley & Scarborough LLP is providing legal counsel to GCEAR, and Venable LLP is providing legal counsel to GCEARs special committee of the board of directors. This merger combines two highly complementary portfolios with similar construction and investment mandates, significantly increasing the size, scale, and diversification of the combined company. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. On December 17, 2014, we sold an asset for $10.95 million that we considered to be non-core to the portfolio, the Eagle Rock Executive Office Center located in Hanover, New Jersey, which was acquired with the Investment Grade Portfolio in November 2013. As of December 31, 2014, our weighted average remaining lease term is approximately 8 years with average annual rental rate increases of approximately 2.1%. Dividends - World. GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC. During 2014, we acquired 15 assets encompassing approximately 4.1 million square feet of commercial office and industrial space in nine states with a total acquisition value of $684.7 million, and we entered into a joint venture to acquire an 80% interest in a state-of-the-art data center, as discussed below. The Weiss investment rating of Griffin Capital Essential Asset REIT II, Inc. (--: ZGEAAX) is U. When is Griffin Capital Essential Asset REIT dividend payment date? Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. In addition, GCEAR announced it is now self-administered following the contribution of Griffin Capital Real Estate Company, LLC (GRECO) to GCEAR on December 14, 2018. Founded in 1995, the privately held firm is led by a seasoned team of senior executives with more than two decades of investment and real estate experience and who collectively have executed more than 650 transactions valued at over $22 billion. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. As explained below, management's evaluation of our operating performance excludes items considered in the calculation of MFFO based on the following economic considerations: For all of these reasons, we believe the non-GAAP measures of FFO and MFFO, in addition to income (loss) from operations, net income (loss) and cash flows from operating activities, as defined by GAAP, are helpful supplemental performance measures and useful to investors in evaluating the performance of our real estate portfolio. Returns without sales charges would be lower if the sales charges were included. Linking to an external site does not On August 5, 2022 the Company announced significant new information: a lower Net Asset Value (NAV) of $7.43 as of June 30, 2022, an amended and restated Share Redemption Program (SRP), and a restructuring proposal to split the Company into 2 separate entities. United States. Backtested performance is developed with the benefit of hindsight and has inherent limitations. Cathie Wood Is Buying These Stocks, Should You? We adopted the IPA MFFO Guideline as management believes that MFFO is a beneficial indicator of our on-going portfolio performance and ability to sustain our current distribution level. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. Please return soon. Acquisition-related costs may negatively affect our operating results, cash flows from operating activities and cash available to fund distributions during periods in which properties are acquired, as the proceeds to fund these costs would otherwise be invested in other real estate related assets. From time to time, we may cancel certain debt obligations and replace these canceled debt obligations with new debt at more favorable terms to us. Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. Griffin Capital Essential Asset REIT, Inc. is a publicly-registered non-traded REIT with a portfolio, as of December 31, 2014(1), of 57 office and industrial distribution properties totaling approximately 13.0 million rentable square feet, located in 20 states, representing total REIT capitalization in excess of $2.3 billion(2). Data provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. This is neither an offer nor a solicitation to purchase securities. Apple's next ex-dividend date has not been announced yet. Griffin Capital Essential Asset REIT II Inc. (GCEAR II), a publicly registered non-traded real estate investment trust, has completed its merger transaction with Griffin Capital Essential Asset REIT, creating a $4.7 billion self-managed REIT. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings. Griffin Capital Essential Asset REIT's previous ex-dividend date was on Jan 31, 2020. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Griffin Capital Essential Asset REIT, Inc is a public non-listed REIT focused on acquiring business essential single-tenant office and industrial properties net leased for long We could not be more thrilled to announce these transactions. Current performance may be higher or lower than the performance shown. Funds from operations, or FFO, as defined by the National Association of Real Estate Investment Trusts (NAREIT), was approximately $49.1 million and $(6.3) million for the years ended December 31, 2014 and 2013, respectively. On May 8, 2014, we canceled our existing secured credit facility and term loan with KeyBank and a syndicate of other lenders, and replaced the same with an unsecured credit facility led by KeyBank and Bank of America. Redefining Net Lease Investing. By creating a free account, you agree to our, Shocking New Documentary Exposes The Two Men Destroying America, Elon Musk drama shifts from Twitter to tweets about Tesla. Griffin Capital Essential Asset REIT shareholders who own GCEA stock before this date received Griffin Capital Essential Asset REIT's last dividend payment of $0.06 per share on Jan 31, 2020. By combining the durability of long-duration creditworthy leases with our proprietary suite of proactive portfolio management strategies, we generate outsized risk-adjusted returns while minimizing risk. These symbols will be available throughout the site during your session. | Source: When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. "Coupled with our fourth quarter acquisition of three high quality assets in the Midwest and the Charlotte metropolitan area, and our successful sale of an asset we considered to be non-core to our strategy, we concluded 2014 by continuing our efforts to maximize shareholder value and create a best-in-class property portfolio. Stocks & Funds. We use debt as a source of capital to acquire properties in our portfolio. Does Griffin Capital Essential Asset REIT have sufficient earnings to cover their dividend? Dividend See what's happening in the market right now with MarketBeat's real-time news feed. GCEAR and GCEAR II expect to prepare and file with the SEC a Registration Statement on Form S-4 containing a Joint Proxy Statement/Prospectus. Griffin Capital Essential Asset REIT II, Inc. Class T Shares, Do Not Sell My Personal Information (CA Residents Only). By Invest Like an Institution, we mean that Griffin Institutional Access Real Estate Fund allows individual investors access to portfolio strategies, investment vehicles, and sub-advisers that are typically only available to large institutional investors such as banks, insurance companies, endowments, and pensions. (Unaudited). Further, backtesting allows the security selection methodology to be adjusted until past returns are maximized. FAQ Does Griffin Capital FFO is defined as net income or loss computed in accordance with GAAP, excluding extraordinary items, as defined by GAAP, and gains and losses from sales of depreciable operating property, adding back asset impairment write-downs, plus real estate related depreciation and amortization (excluding amortization of deferred financing costs and depreciation of non-real estate assets), and after adjustment for unconsolidated partnerships, joint ventures and preferred distributions. In doing so, we are required the write off the remaining capitalized financing costs associated with the canceled debt, which we consider to be a cost, or loss, on extinguishing such debt. Amortization of in-place lease valuation. All rights reserved. Griffin Capital Essential Asset REIT II Acquires $81.4 Million Corporate Headquarters Facility in Parsippany, New Jersey. As of September 30, 2018, Griffin Capital Essential Asset REIT II, Inc. has acquired 35 office and industrial buildings totaling approximately 7.3 million rentable square feet and total REIT capitalization of approximately $1.3 billion. Neither the SEC, NAREIT, nor any other applicable regulatory body has opined on the acceptability of the adjustments contemplated to adjust FFO in order to calculate MFFO and its use as a non-GAAP performance measure. Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock was trading at $7.43 at the beginning of the year. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. 1-202-739-9401 (fax). Type a symbol or company name. Accordingly, unless our Advisor determines to waive the payment of any then-outstanding acquisition-related costs otherwise payable to our Advisor, such costs will be paid from additional debt, operational earnings or cash flow, net proceeds from the sale of properties, or ancillary cash flows. Type a symbol or company name. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. How have ZGEAEX shares performed in 2023? March 26, 2015 12:01 ET While impairment charges are excluded from the calculation of MFFO as described above, investors are cautioned that due to the fact that impairments are based on estimated future undiscounted cash flows and the relatively limited term of our operations, it could be difficult to recover any impairment charges through operational net revenues or cash flows prior to any liquidity event. Griffin Capital Essential Asset REIT II Inc Dividend Stock News and Updates, Legendary Investor's Top 3 Dividend Stocks for 2022, Get Dr. Mark Skousen's favorite dividend plays for the New Year. Germany Switzerland Spain Poland Netherlands Greece France Ireland Italy Belgium Austria. Create your Watchlist to save your favorite quotes on Nasdaq.com. Griffin Capital Plaza, El Segundo, CA 90245. Because FFO calculations exclude such items as depreciation and amortization of real estate assets and gains and losses from sales of operating real estate assets (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), they facilitate comparisons of operating performance between periods and between other REITs. Griffin Capital Essential Asset REIT, Inc is a public non-listed REIT focused on acquiring business essential single-tenant office and industrial properties net leased for long duration to creditworthy corporate tenants. No cash balance or cash flow is included in the calculation. If and to the extent that any of the participants will receive any additional benefits in connection with the merger, the details of those benefits will be described in the Joint Proxy Statement/Prospectus relating to the merger. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY. The unsecured credit facility consists of a $450 million revolving credit facility and a $300 million term loan. Griffin Capital Company uses cookies and processes data like IP-addresses or browser information to help us compile aggregate data about site traffic and site interaction so that we can offer better user experiences. By accepting, you are consenting to our use of this technology and the capture of this data. REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. link | News | Griffin Capital Essential Asset REIT Acquires Wyndhams Corporate Headquarters Facility. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. By excluding acquisition-related costs, MFFO may not provide an accurate indicator of our operating performance during periods in which acquisitions are made. As a term of obtaining this debt, we will pay financing costs to the respective lender. In addition to the significant value they immediately bring to shareholders, we believe the size, capitalization, and cost structure of the combined company positions it well for the future. In order to mitigate our interest rate risk on certain financial instruments, if any, we may enter into interest rate cap agreements or other hedge instruments and in order to mitigate our risk to foreign currency exposure, if any, we may enter into foreign currency hedges. Identify stocks that meet your criteria using seven unique stock screeners. You are leaving the Griffin Capital Company, LLC ("Griffin Capital") webpage. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties related to the timing and availability of distributions; and other risk factors as outlined in the REIT's annual report on From 10-K as filed with the Securities and Exchange Commission. Straight-line rent. Create your Watchlist to save your favorite quotes on Nasdaq.com. Copy and paste multiple symbols separated by spaces. Griffin Capital Company, LLC (Griffin Capital) is a leading alternative investment asset manager that owns, manages, sponsors or co/sponsors approximately $11.2 billion* in assets. Alternatively, we believe that the periodic amount paid by the tenant in subsequent periods to satisfy the termination fee obligation should be included in MFFO. However, it can provide an indication of our on-going ability to generate cash flow from operations and continue as a going concern after we cease to acquire properties on a frequent and regular basis, which can be compared to the MFFO of other non-listed REITs that have completed their acquisition activity and have similar operating characteristics to ours. United States Canada UK Hong Kong Japan Australia New Zealand. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. Griffin Capital View which stocks are hot on social media with MarketBeat's trending stocks report. Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity
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