Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. Certain assumptions have been made for modeling purposes and are unlikely to be realized. 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. Backtested performance is developed with the benefit of hindsight and has inherent limitations. View which stocks are hot on social media with MarketBeat's trending stocks report. Please return soon. 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. No cash balance or cash flow is included in the calculation. The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. When autocomplete results are available use up and down arrows to review and enter to select. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY. 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. When autocomplete results are available use up and down arrows to review and enter to select. 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. In the process, we incur non-reimbursable affiliated and non-affiliated acquisition-related costs, which in accordance with GAAP, are expensed as incurred and are included in the determination of income (loss) from operations and net income (loss). 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). Gain or Loss from the extinguishment of debt. 1-202-739-9400 constitute an endorsement by Griffin Capital of the information presented on the site. Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity To see all exchange delays and terms of use please see Barchart's disclaimer. 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. Morris, Manning & Martin, LLP is providing legal counsel to GCEAR IIs special committee of the board of directors. Griffin Capital Essential Asset REIT II Acquires $81.4 Million Corporate Headquarters Facility in Parsippany, New Jersey. The table shows Griffin Capital Essential Asset REITs dividend history, including amount per share, payout frequency, declaration, record, and payment dates. The asset was allocated an initial acquisition value of $6.5 million. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. Griffin Capital Essential Asset REIT II, Inc. Class T Shares, Do Not Sell My Personal Information (CA Residents Only). When is Griffin Capital Essential Asset REIT ex-dividend date? 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. PepsiCo is the Winner, Here's Why. 1-800-3-NAREIT attest to the accuracy of information provided by this link. Fund Name Griffin Capital Essential Asset REIT II, Inc. - E Tax Classification Symbol NYSEARCA:ZGEAEX Inception Date 1/1/2100 Fund Manager Web *Includes the property information related to interests held in certain joint ventures. Returns quoted represent past performance which is no guarantee of future results. Griffin Capital Essential Asset REIT (GCEA) does not pay a dividend. Copyright Nareit 2023. 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"). Additionally, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations, assessments regarding general market conditions, and the specific performance of properties owned, which can change over time. 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. Griffin Capital Essential Asset REIT II, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. 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. MFFO, however, is not considered an appropriate measure of historical earnings as it excludes certain significant costs that are otherwise included in reported earnings. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. New. Returns quoted represent past performance which is no guarantee of future results. 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. United States Canada UK Please log in to your account or sign up in order to add this asset to your watchlist. Additional information is available atwww.griffincapital.com. Led by senior executives each with more than two decades of real estate experience collectively encompassing over $20 billion of transaction value and more than 650 transactions, Griffin Capital and its affiliates have acquired or constructed approximately 40 million square feet of space since 1995. Griffin Capital Essential Asset REIT II, Inc. Class E Shares' mailing address is Griffin Capital Plaza, El Segundo, CA 90245. Type a symbol or company name. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings Stocks & Funds ETF Ratings U Griffin Capital Essential Asset REIT II, Inc. Investors and security holders may obtain additional information regarding the direct and indirect interests of GCEAR and GCEAR II and their respective executive officers and directors in the merger by reading the Joint Proxy Statement/Prospectus regarding the merger when it becomes available. Griffin Capital Essential Asset REIT II, Inc. Class E Shares, Receive ZGEAEX Stock News and Ratings via Email. 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. Sign up today for your free Reader Account! (Please see financial reconciliation tables and notes at the end of this release for more information regarding MFFO and FFO.). Does Griffin Capital Essential Asset REIT pay dividends? The New Energy Crisis No One Saw Coming (Ad), Apple, Amazon, and Walmart are Investing in Solar Energy (Ad). Click to see Griffin Capital Essential Asset REIT II Inc Dividend Data, Dates and more financial information, or here to see GRTAA Projected 10 Year Dividend Yield. All Rights Reserved. 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. 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. Changes in these assumptions may have a material impact on the backtested returns presented. 326 E 8th St #105, Sioux Falls, SD 57103 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. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. Returns without sales charges would be lower if the sales charges were included. 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' stock was trading at $7.43 at the beginning of the year. EL SEGUNDO, Calif. (BUSINESS WIRE) Griffin Capital Essential Asset REIT, Inc. (the Company), a fully-integrated and internally-managed net lease REIT, today announced a corporate rebranding as GRT. Tritium Is the Largest DC EV Charger Maker Youve Never Heard Of. Management will no longer consider the effect of the amortization of these financing costs in operating models and also believes that this loss is considered an isolated event not associated with our operations and, therefore, deems this write off to be an exclusion from MFFO. 2023 Griffin Capital Company, LLC. 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%. Returns without sales charges would be lower if the sales charges were included. 2023 Griffin Capital Company, LLC. 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. Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. Shares of ZGEAEX stock can be purchased through any online brokerage account. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. We construct our net lease portfolio using our unique analytical perspective. See what's happening in the market right now with MarketBeat's real-time news feed. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. All Rights Reserved. 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. 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. 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. 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. These symbols will be available throughout the site during your session. All Rights Reserved. This is neither an offer nor a solicitation to purchase securities. 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. Investors will be able to obtain these materials and other documents filed with the SEC free of charge at the SECs website(http://www.sec.gov). Export data to Excel for your own analysis. Is Dividend King PPG Industries A Buy Before Earnings? Our calculation of FFO and MFFO is presented in the following table for the years ended December31, 2014, 2013 and 2012 (in thousands). Properties Archive | Griffin Realty Trust Portfolio. How do I buy shares of Griffin Capital Essential Asset REIT II, Inc. Class E Shares? Griffin Capital Essential Asset REIT II, Inc. Class E Shares trades on the New York Stock Exchange (NYSE)ARCA under the ticker symbol "ZGEAEX.". Backtested performance is not an indicator of future actual results. 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. Griffin Capital has no control over this external site and cannot 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. 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. Is it a Buy? Cathie Wood Is Buying These Stocks, Should You? Dr. Randy Anderson offers latest real estate sector picks on Fox Business Claman Countdown, Investing in Real Estate as a Hedge Against Inflation. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. 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. The table shows Griffin Capital Essential Asset REITs dividend history, including amount per share, payout frequency, declaration, record, and payment dates. Approximately 67% of our portfolio's net rental revenue is generated by investment grade-rated companies that either lease the properties directly, have its lease guaranteed by an investment grade-rated company, or have a parent company that carries an investment grade rating. 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. Blue chip and investment grade descriptions are those of either tenants and/ or guarantors with investment grade credit ratings or whose non-guarantor parent companies have investment grade credit ratings or what management believes are generally equivalent ratings. The Merger is subject to customary closing conditions, including the receipt of approval of SOR's stockholders, thus, there is no guarantee that the Merger will be consummated. By combining the durability March 26, 2015 12:01 ET 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. 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. 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"). Management is responsible for managing interest rate, hedge and foreign exchange risk. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Add GCEA to your watchlist to be reminded of GCEA's next dividend payment. 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Does Griffin Capital Essential Asset REIT have sufficient earnings to cover their dividend? Financed termination fee. 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. 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. 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. How much is Griffin Capital Essential Asset REIT's dividend? Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. 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 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. As of September 30, 2018 and prior to the self-administration transaction. Our Properties. What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock price today? Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Identify stocks that meet your criteria using seven unique stock screeners. 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. Insulet Has Potential To Gain More Than Analysts Are Forecasting. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. This means that every time you visit this website you will need to enable or disable cookies again. 1520 E. Grand Ave, El Segundo, CA 90245 | 310-606-3200. Recommendation -- Prev Close -- By excluding acquisition-related costs, MFFO may not provide an accurate indicator of our operating performance during periods in which acquisitions are made. 2023, Nasdaq, Inc. All Rights Reserved. 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 Company, LLC (Griffin Capital) is a leading alternative investment asset manager that owns, manages, sponsors or co/sponsors approximately $11.2 billion* in assets. Tietoja laitteestasi ja Internet-yhteydest (esimerkiksi IP-osoitteesi), Selaaminen ja hakutoiminnot Yahoon verkkosivustojen ja -sovellusten kytn aikana. FAQ Does Griffin Capital We believe that a fee received from a tenant for terminating a lease is appropriately included as a component of rental revenue and therefore included in MFFO. United States Canada UK Hong Kong Japan Australia New Zealand. These symbols will be available throughout the site during your session. 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. Linking to an external site does not Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. The transaction is expected to close in the first half of 2019, subject to certain closing conditions, including the approval of the merger by both GCEAR and GCEAR II shareholders. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. 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. 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. Nareits ESG JumpStart: Virtual Class Series. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. Current performance may be higher or lower than the performance shown. With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. Our daily ratings and market update email newsletter. 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. The report and its 30-plus case studies feature REIT leadership and ESG innovation from a variety of sectors and serves as a tool to assess the scale and impact of the REIT industrys ESG commitments and initiatives. The firm manages, sponsors or co-sponsors a suite of carefully curated, institutional quality investment solutions distributed by Griffin Capital Securities, LLC to retail investors through a community of partners, including independent and insurance broker-dealers, national wirehouses, registered investment advisory firms and the financial advisors who work with these enterprises. Does it Matter Folks Aren't Starry-Eyed Over Pepsi's New Soda? 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