Forward AFFO Payout Ratios
Cole/Cole Merger to Create One of Largest Net-Leased Publicly Traded REITs
Cole Credit Property Trust III has executed a definitive merger agreement to acquire Cole Holdings Corp., a real estate investment management firm that currently manages more than $12 billion of real estate assets.
Essex Buys Fox Plaza in SF for $135M
Last year, Essex Property Trust made more than $800 million in M-F acquisitions in California and the Seattle area. The REIT is continuing its spending this year, picking up Fox Plaza, a 444-unit property in San Francisco’s Mid-Market district, for $135 million from Archstone.
SL Green Closes $900M Refinancing of Manhattan’s 1515 Broadway
SL Green Realty Corp. has done it again. New York City’s largest office landlord has refinanced its 1.8 million-square-foot office building at 1515 Broadway once again– to the tune of $900 million.
KKR to Invest $150M of Equity in Sentio Healthcare
Kohlberg Kravis Roberts & Co. is providing $150 million of equity to Sentio Healthcare Properties, a REIT that invests in seniors housing and medical facilities, to help it grow its portfolio.
RioCan to Acquire Regional Malls in Greater Toronto Area
RioCan Real Estate Investment Trust has entered into a conditional agreement with Primaris Retail REIT to acquire two regional shopping malls in the Greater Toronto Area (GTA) for a combined gross purchase price of approximately $362 million.
Blackstone to Buy UBS’s Majority Stake in 40-Property Retail Portfolio
Blackstone Group L.P. is on the verge of snapping up a majority interest in 40 high-quality shopping centers. UBS, which co-owns the collection of U.S. retail properties with Kimco Realty Corp., will sell its controlling interest to Blackstone for $1.1 billion.
KBS REIT III Buys Downtown Minneapolis Office Building for $118M
KBS Real Estate Investment Trust III has acquired the RBC Plaza, a 678,045-square-foot, mixed-use office building in downtown Minneapolis, from Brookfield Office Properties for $118 million.
Phillips Edison–ARC Shopping Center REIT Acquires 508 KSF Shopping Center Portfolio in Atlanta
Phillips Edison-ARC Shopping Center REIT has started the new year where it left off in 2012 – with another acquisition – a portfolio of six grocery-anchored shopping centers in the Atlanta area, which the Cincinnati-based REIT acquired for $60.5 million.