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 Essential Asset REIT, Inc To Merge with Griffin Capital Essential Asset REIT II, Inc. (https://www.griffincapital.com/griffin-capital-essential-asset-reit), (https://www.griffincapital.com/griffin-capital-essential-asset-reit-ii). Griffin Capital Essential Asset REIT has no upcoming dividends. 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. 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. 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. 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. 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. 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. Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock was trading at $7.43 at the beginning of the year. This press release contains statements that constitute forward-looking statements, as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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"). 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. Please log in to your account or sign up in order to add this asset to your watchlist. Insulet Has Potential To Gain More Than Analysts Are Forecasting. United States Canada UK Hong Kong Japan Australia New Zealand. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. FAQ Does Griffin Capital More specifically, MFFO isolates the financial results of the REIT's operations. Over 67% of the portfolio is leased to investment-grade tenants. 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. 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. Please return soon. 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. Type a symbol or company name. When autocomplete results are available use up and down arrows to review and enter to select. Blue chip companies are well-known publicly traded companies that typically make up the Dow Jones Industrial Average or the S&P 500 Index. 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. All rights reserved. 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. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Touch device users, explore by touch or with swipe gestures. 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. Fundamental Data provided by DividendInvestor.com. (Please see financial reconciliation tables and notes at the end of this release for more information regarding MFFO and FFO.). 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. 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. When is Griffin Capital Essential Asset REIT dividend payment date? 1-202-739-9400 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. Returns without sales charges would be lower if the sales charges were included. Voit muuttaa valintojasi milloin tahansa siirtymll yksityisyydenhallinta-asetuksiisi. The unsecured credit facility consists of a $450 million revolving credit facility and a $300 million term loan. Dividends - World. March 26, 2015 12:01 ET 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. 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. 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. 2023 Griffin Capital Company, LLC. 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. was one of several REITs sponsored or co-sponsored by Griffin Capital. How do we provide stable cash flow, downside protection, and create alpha? 1 Includes the property information related to the acquisition of an 80% ownership interest in the Digital Realty joint venture. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY. For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. These costs have been and will continue to be funded with cash proceeds from our Primary Public Offerings or included as a component of the amount borrowed to acquire such real estate. "The Essential Asset REIT capped off a spectacular 2014 with our entry into a definitive merger agreement with Signature Office REIT, Inc., a non-traded REIT with a property portfolio consisting of 15 office buildings, in November 2014. 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. No representations and warranties are made as to the reasonableness of the assumptions. United States Canada UK Hong Kong Japan Australia New Zealand. Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity 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. We provide opinion articles, detailed dividend data, history, and dates for every dividend stock, screening tools, and our exclusive dividend all star rankings. 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. 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. 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. 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. 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. We own and operate an institutional-quality portfolio of net-leased office and industrial assets, comprised of 144 buildings located in 26 states and totaling over 29 million square feet. Additional information about Griffin Capital is available at www.griffincapital.com. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. Morris, Manning & Martin, LLP is providing legal counsel to GCEAR IIs special committee of the board of directors. The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. Yes, GCEA has paid a dividend within the past 12 months. By accepting, you are consenting to our use of this technology and the capture of this data. 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"). Our daily ratings and market update email newsletter. Register for your free account today atdata.nasdaq.com. 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. Stocks & Funds. 2023, Nasdaq, Inc. All Rights Reserved. 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 is a public non-listed REIT focused on acquiring business essential single-tenant office and industrial properties net leased for long What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock symbol? 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. Touch device users, explore by touch or with swipe gestures. Get a free in-depth analysis of Griffin Capital Essential Asset REIT (GCEA) stock. Germany Switzerland Spain Poland Netherlands Greece France Ireland Italy Belgium Austria. As this item is a non-cash adjustment and is included in historical earnings, FFO is adjusted for the effect of the amortization of in-place lease valuation to arrive at MFFO as a means of determining operating results of our portfolio. 2023 Griffin Capital Company, LLC. IPO Calendar Earnings Calendar Dividend Calendar Economic Calendar. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. Griffin Capital Essential Asset REIT's previous ex-dividend date was on Jan 31, 2020. 3 Includes Griffin-American Healthcare REIT II, Inc. (GAHR II) which merged with NorthStar Realty Finance Corporation in December 2014. As of December 31, 2014 SOR had 20,473,024 shares of common stock outstanding. All Rights Reserved. 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. Gain or Loss from the extinguishment of debt. 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. Financed termination fee. Griffin Capital Essential Asset REIT, Inc. - Regulation FD Disclosure, Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Other Events - FORM 8-K - 8-K - February 15, 2013. the main competitors of griffin capital essential asset reit ii include acre realty investors (aiii), aedifica (aedff), alstria office reit (alsrf), american hotel income properties reit (ahotf), american spectrum realty (aqqsq), capital & counties properties plc (ccppf), capitaland ascott trust (attrf), cbl & associates properties (cblaq), cdl