Type a symbol or company name. Griffin Capital Essential Asset REIT II Acquires $81.4 Million Corporate Headquarters Facility in Parsippany, New Jersey. 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. 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. All Rights Reserved. This is neither an offer nor a solicitation to purchase securities. Additional Information and Where to Find It: This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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. 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. How have ZGEAEX shares performed in 2023? Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition based on the present value of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management's estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. Tietoja laitteestasi ja Internet-yhteydest (esimerkiksi IP-osoitteesi), Selaaminen ja hakutoiminnot Yahoon verkkosivustojen ja -sovellusten kytn aikana. WE URGE INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED BY GCEAR AND GCEAR II IN CONNECTION WITH THE PROPOSED MERGER WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GCEAR, GCEAR II AND THE PROPOSED MERGER. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Funds from Operations and Modified Funds from Operations Under the terms of the Merger Agreement, each share of common stock of SOR issued and outstanding will be converted into the right to receive 2.04 shares of our common stock. 2023 Griffin Realty Trust. On February 20, 2015, we sold an asset for $14.3 million that we considered to be non-core to the portfolio, College Park Plaza, located in Indianapolis, Indiana, which was acquired with the Investment Grade Portfolio in November 2013. Data provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. Touch device users, explore by touch or with swipe gestures. 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. 2023, Nasdaq, Inc. All Rights Reserved. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. If we acquire a property after all offering proceeds from our Public Offerings have been invested, there will not be any offering proceeds to pay the corresponding acquisition-related costs. More specifically, MFFO isolates the financial results of the REIT's operations. Get short term trading ideas from the MarketBeat Idea Engine. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. 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. 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. Recommendation -- Prev Close -- Is Dividend King PPG Industries A Buy Before Earnings? 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. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. Robert A. Stanger & Co., Inc. and Bank of America Merrill Lynch are acting as financial advisors to GCEAR, and SunTrust Robinson Humphrey, Inc. is acting as financial advisor to GCEAR IIs special committee of the board of directors. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) As of 08:06AM EST. Griffin Capital's co-sponsor in GAHR II continues to manage that portfolio. As a term of obtaining this debt, we will pay financing costs to the respective lender. EL SEGUNDO, Calif., Dec. 28, 2015 (GLOBE NEWSWIRE) Griffin Capital Corporation (Griffin Capital) announced today, on behalf of Griffin Capital Essential Asset REIT, Inc. (the REIT), the acquisition of a three-property portfolio from Global Income Trust, Inc. (the Seller), a public, non-traded REIT sponsored by CNL Financial Group, LLC. Russian strike toll: 45 dead civilians, including 6 children. Since then, ZGEAEX shares have increased by 0.0% and is now trading at $7.43. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. Information regarding GCEARs directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on March 9, 2018 and its proxy statement filed with the SEC by GCEAR on April 4, 2017 in connection with its 2017 annual meeting of stockholders, and information regarding GCEAR IIs directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on March 9, 2018 and its proxy statement filed with the SEC by GCEAR II on April 5, 2017 in connection with its 2017 annual meeting of stockholders. Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. El Segundo, Calif. (June 29, 2015) Griffin Capital 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. 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. 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"). You are leaving the Griffin Capital Company, LLC ("Griffin Capital") webpage. PepsiCo is the Winner, Here's Why. Griffin Capital Essential Asset REIT II, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. 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. (844) 978-6257. Industrial If, however, the termination fee is to be paid over time, we believe the recognition of such termination fee into income should not be included in MFFO. Please note all regulatory considerations regarding the presentation of fees must be taken into account. The acquisition value of the property was $187.5 million, including closing costs, which was partially financed with stand-alone credit facility of $102.0 million. Factors that could cause actual results to differ materially from these expectations include, but are not limited to, the risk that the merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability of GCEAR or GCEAR II to obtain stockholder approval of the merger or the failure to satisfy the other conditions to completion of the merger; risks related to disruption of managements attention from the ongoing business operations due to the merger; availability of suitable investment opportunities; changes in interest rates; the availability and terms of financing; general economic conditions; market conditions; legislative and regulatory changes that could adversely affect the business of GCEAR or GCEAR II; and other factors, including those set forth in the Risk Factors section of GCEARs and GCEAR IIs most recent Annual Report on Form 10-K for the year ended December 31, 2017, as updated by the subsequent Quarterly Reports on Form 10-Q for the periods ended March 31, 2018, June 30, 2018 and September 30, 2018 filed with the SEC, and other reports filed by GCEAR and GCEAR II with the SEC, copies of which are available on the SECs website, www.sec.gov. ", About Griffin Capital Essential Asset REIT and Griffin Capital Corporation. Additionally, MFFO has limitations as a performance measure in an offering such as ours where the price of a share of common stock is a stated value. About Griffin Capital Essential Asset REIT, Inc. Griffin Capital Essential Asset REIT, Inc. is a publicly-registered, non-traded REIT with a portfolio, as of September 30, 2018, of 76 office and industrial properties totaling 20.1 million rentable square feet, located in 20 states, representing total REIT capitalization of approximately $3.5 billion. 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. United States Canada UK (Please see financial reconciliation tables and notes at the end of this release for more information regarding MFFO and FFO.). Cathie Wood Is Buying These Stocks, Should You? The Investment Program Association ("IPA") issued Practice Guideline 2010-01 (the "IPA MFFO Guideline") on November2, 2010, which extended financial measures to include modified funds from operations ("MFFO"). Griffin Capital Essential Asset REIT's previous ex-dividend date was on Jan 31, 2020. On November 21, 2014, we entered into a Merger Agreement with Signature Office REIT ("SOR") in connection with the proposed merger of SOR with and into our wholly-owned subsidiary, with our wholly-owned subsidiary as the surviving company (the "Merger"). The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases. Sign in to your free account to enjoy all that MarketBeat has to offer. Nareits ESG JumpStart: Virtual Class Series. Griffin Capital In the future, the SEC or NAREIT may decide to standardize the allowable exclusions across the REIT industry, and we may have to adjust the calculation and characterization of this non-GAAP measure. As a result, we believe that the use of FFO, together with the required GAAP presentations, provides a more complete understanding of our performance relative to our competitors and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. 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. All Rights Reserved. To achieve our objectives, we may borrow at fixed rates or variable rates. Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock was trading at $7.43 at the beginning of the year. Since real estate values have historically risen or fallen with market conditions, many industry investors and analysts have considered the presentation of operating results for real estate companies that use historical cost accounting to be insufficient. Identify stocks that meet your criteria using seven unique stock screeners. Current performance may be higher or lower than the performance shown. March 26, 2015 12:01 ET Griffin Capital Essential Asset REIT II Inc (OTCBB:GRTAA) Dividend History Click to see Griffin Capital Essential Asset REIT II Inc Dividend Data, Dates and more financial American Consumer News, LLC dba MarketBeat 2010-2023. 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 One share of ZGEAEX stock can currently be purchased for approximately $7.43. The total capitalization of our portfolio exceeds $2.3 billion. Fastest Corvette ever is all-wheel-drive gas-electric hybrid, Mullen Automotive - Short Squeeze is Possible - Not Inevitable, PepsiCo or Coke? Our calculation of FFO and MFFO is presented in the following table for the years ended December31, 2014, 2013 and 2012 (in thousands). GRT Strategic Update and Office Portfolio Sale Click for More Information. GCEAR and GCEAR II undertake no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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. By accepting, you are consenting to our use of this technology and the capture of this data. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. Griffin Capital Essential Asset REITs next quarterly payment date is on Jan 31, 2020, when Griffin Capital Essential Asset REIT shareholders who owned GCEA shares before Jan 31, 2020 received a dividend payment of $0.06 per share. 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. Acquisition-related costs. The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. Sorry, no news available for this stock ticker Jan. 18, 2023RVIC STOCK PRICE INCREASE: Retail Value Inc on 01-18-2023 increased stock price > 10% from $0.23 to $0.26, Jan. 18, 2023OGCP STOCK PRICE INCREASE: Unit Ltd Partnership Int Ser 60/Empire State Realty OP LP on 01-18-2023 increased stock price > 10% from $6.60 to $7.42, Jan. 18, 2023HHDS STOCK PRICE INCREASE: Highlands REIT Inc on 01-18-2023 increased stock price > 10% from $0.15 to $0.50, Dividend tools used by the pros, now at your fingertips, Find the secrets to discovering the best dividend-paying stocks by taking a short video tour of our site, FREE REPORT: My "Challenge" to the World's Richest Man: Elon Musk Register for your free account today atdata.nasdaq.com. In connection with the rebranding, the Company unveiled a new logo along with the launch of its new website, www.grtreit.com. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. The self-administration transaction provides immediate benefits to GCEAR shareholders, including a considerable reduction in the operating expenses of GCEAR; these benefits will extend to the combined company following the completion of the merger of GCEAR into GCEAR II. 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 Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. 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. By investment grade we mean that we intend to invest in properties leased to blue chip tenants and/ or companies with investment grade credit ratings. Does Griffin Capital Essential Asset REIT pay dividends? Voit muuttaa valintojasi milloin tahansa siirtymll yksityisyydenhallinta-asetuksiisi. All Rights Reserved. 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. Legendary Investor Shares His #1 Monthly Dividend Play, Griffin Capital Essential Asset REIT II Inc Dividend Data, Dates and more financial information, Master Limited Partnership (MLP) Directory, Dividend-paying Defense Investments Serve the U.S. Navy and Shareholders, Five Dividend-paying Defense Investments Fueled by Russias War, Dividend-paying Defense Stocks Rise in Race for Space, Two Dividend-paying Launch Vehicle Stocks Offer Gifts to Investors Seeking Lifts, California Do not sell my personal information. 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. Over 67% of the portfolio is leased to investment-grade tenants. Shares of ZGEAEX stock can be purchased through any online brokerage account. 326 E 8th St #105, Sioux Falls, SD 57103 Register for your free account today atdata.nasdaq.com. View which stocks are hot on social media with MarketBeat's trending stocks report. Linking to an external site does not All rights reserved. We were organized primarily with the purpose of acquiring or investing in income-producing real property in order to generate operational income and cash flow that will allow us to provide regular cash distributions to our stockholders. 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%. Copyright 2023 DividendInvestor.com. As of December 31, 2014, total acquisition value and portfolio square footage increased by approximately 58% and 44%, respectively, since December 31, 2013. We consider the amortization expense to be a component of operations if the debt was used to acquire properties. Morris, Manning & Martin, LLP is providing legal counsel to GCEAR IIs special committee of the board of directors. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Dividends - World. 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. TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. 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. Returns quoted represent past performance which is no guarantee of future results. 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. 1 Includes the property information related to the acquisition of an 80% ownership interest in the Digital Realty joint venture. GRT has not approved or sponsored its tenants or their products and services. Add GCEA to your watchlist to be reminded of GCEA's next dividend payment. Kun napsautat Hyvksy kaikki, hyvksyt sen, ett Yahoo ja kumppanimme ksittelevt henkiltietojasi ja nyttvt evsteiden kaltaisten tekniikoiden avulla sinulle rtlity mainontaa ja sislt sek hydyntvt nit tekniikoita mainosten ja sislln mittaamisessa, kohderyhmtiedoissa ja tuotekehityksess. El Segundo, Calif. (December 20, 2018) Griffin Capital Company, LLC (Griffin Capital), a leading private investment firm and one of the nations premier alternative investment advisors, announced today that Griffin Capital Essential Asset REIT, Inc. (GCEAR) and Griffin Capital Essential Asset REIT II, Inc. (GCEAR II) have entered into a definitive agreement to merge in an all-stock transaction, creating a $4.75 billion, self-managed REIT, which will generate significant benefits for shareholders, including substantial cost savings, increased operating efficiencies, and immediate accretion to earnings and cash flow. (Unaudited). Tritium Is the Largest DC EV Charger Maker Youve Never Heard Of. Changes in these assumptions may have a material impact on the backtested returns presented. 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. The asset was allocated an initial acquisition value of $7.4 million, and approximately $2.0 million was invested into the property subsequent to our acquisition. Certain directors and executive officers of GCEAR and/or GCEAR II and other persons may have direct or indirect interests in the merger due to securities holdings, pre-existing or future indemnification arrangements and rights to severance payments and retention bonuses if their employment is terminated prior to or following the merger. 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. The table shows Griffin Capital Essential Asset REITs dividend history, including amount per share, payout frequency, declaration, record, and payment dates.
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