By excluding acquisition-related costs, MFFO may not provide an accurate indicator of our operating performance during periods in which acquisitions are made. See what's happening in the market right now with MarketBeat's real-time news feed. 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. Touch device users, explore by touch or with swipe gestures. Tritium Is the Largest DC EV Charger Maker Youve Never Heard Of. When is Griffin Capital Essential Asset REIT ex-dividend date? The official website for the company is www.griffincapital.com. PepsiCo is the Winner, Here's Why. As a term of obtaining this debt, we will pay financing costs to the respective lender. The Weiss investment rating of Griffin Capital Essential Asset REIT II, Inc. (--: ZGEAAX) is U. 2 Total capitalization includes the outstanding debt balance, plus total equity raised in our public offering and operating partnership units issued. Please log in to your account or sign up in order to add this asset to your watchlist. Get a free in-depth analysis of Griffin Capital Essential Asset REIT (GCEA) stock. Russian strike toll: 45 dead civilians, including 6 children. As a result, our portfolio at December 31, 2014(1) consisted of 57 assets encompassing approximately 13.0 million square feet of space in 20 states with a total acquisition value of $2.0 billion. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Stocks & Funds. To see all exchange delays and terms of use please see Barchart's disclaimer. 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. 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. We construct our net lease portfolio using our unique analytical perspective. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. All product and company names, logos and slogans are the trademarks or service marks of their respective owners. Shortly following the closing of the merger, GCEAR II, as the surviving entity, intends to conduct a tender offer for all shareholders of at least $100 million. Copyright Nareit 2023. 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%. Our management believes that historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. March 26, 2015 12:01 ET 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. We could not be more thrilled to announce these transactions. However, MFFO is not a useful measure in evaluating NAV because impairments are taken into account in determining NAV but not in determining MFFO. Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. Led by senior executives, each with more than two decades of real estate experience collectively encompassing over $25 billion of transaction value and more than 650 transactions, Griffin Capital and its affiliates have acquired or constructed approximately 33 million square feet of space since 1995. Find Griffin Capital Essential Asset REIT Smart Score, expert sentiment, charts & stats. All Rights Reserved. "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. Griffin Capital Essential Asset REIT has no upcoming dividends. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. Sign-up to receive the latest news and ratings for Griffin Capital Essential Asset REIT II, Inc. Class E Shares and its competitors with MarketBeat's FREE daily newsletter. All Rights Reserved. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. How do I buy shares of Griffin Capital Essential Asset REIT II, Inc. Class E Shares? The acquisition value of the property was $66.0 million. Fastest Corvette ever is all-wheel-drive gas-electric hybrid, Mullen Automotive - Short Squeeze is Possible - Not Inevitable, PepsiCo or Coke? We believe this portfolio is highly complementary to our existing footprint as it adds additional scale and diversification by tenant, tenant business, and geography, which inure to the benefit of our stockholders," stated David Rupert, President of Essential Asset REIT. 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. Backtested performance is developed with the benefit of hindsight and has inherent limitations. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Acquisition-related costs. Redefining Net Lease Investing. Morris, Manning & Martin, LLP is providing legal counsel to GCEAR IIs special committee of the board of directors. 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. Returns without sales charges would be lower if the sales charges were included. Our calculation of FFO and MFFO is presented in the following table for the years ended December31, 2014, 2013 and 2012 (in thousands). Amortization of in-place lease valuation. With the risk of recession a dominant theme for 2023, Nareits Ed Pierzak explains that a recession does not have to equate to negative property total returns.. Griffin Capital Essential Asset REIT II, Inc. Class E Shares, Receive ZGEAEX Stock News and Ratings via Email. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. 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. Can Alaska Air Continue Soaring Above The Airline Industry? 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. 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. 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. 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. DividendInvestor.com features a variety of tools, articles, and resources designed to help investors interested in dividend stocks find the best dividend stocks to buy. 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. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Griffin Capital Essential Asset REIT II, Inc. Class T Shares, Do Not Sell My Personal Information (CA Residents Only). 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. El Segundo, Calif. (June 29, 2015) Griffin Capital Dividend 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. 2023, Nasdaq, Inc. All Rights Reserved. New. 2023 Griffin Realty Trust. link | News | Griffin Capital Essential Asset REIT Acquires Wyndhams Corporate Headquarters Facility. 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. El Segundo, Calif. (December 20, 2018) Griffin Capital Company, LLC (Griffin Capital), a leading private investment firm and one of the nations premier alternative The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Does Griffin Capital Essential Asset REIT pay dividends? These symbols will be available throughout the site during your session. In computing MFFO, FFO is adjusted for certain non-operating cash items such as acquisition fees and expenses and certain non-cash items such as straight-line rent, amortization of in-place lease valuations, amortization of discounts and premiums on debt investments, nonrecurring impairments of real estate-related investments, mark-to-market adjustments included in net income (loss), and nonrecurring gains or losses included in net income (loss) from the extinguishment or sale of debt, hedges, foreign exchange, derivatives or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and after adjustments for consolidated and unconsolidated partnerships and joint ventures, with such adjustments calculated to reflect MFFO on the same basis. 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