Forward AFFO Payout Ratios
New REIT Grabs San Francisco’s Sir Francis Drake Hotel in $90M Deal
Located downtown in the center of San Francisco’s bustling Union Square, the 23-story Sir Francis Drake was originally developed in 1928. The upper upscale hotel features 18,000 square feet of meeting space and is home to a famed bistro, a Starbucks store, a bar and a nightclub.
Fitch Gives Health Care REIT Inc’s $152MM Convertible Senior Notes ‘BBB’ Rating
According to a statement by Fitch, Health Care REIT will use the proceeds to repurchase a portion of its 4.5 percent convertible senior notes due in 2026 and 2027.
Omega Buys 63 Long-Term Care Facilities with $293M Price Tag
The 63 facilities comprise 6,607 available beds in 19 states and are part of 30 in-place triple-net leases among 18 operators. The leases generate about $34 million in annualized revenue.
REIT Week 2010: Some Sectors Still Waiting for Recovery
If there were any overarching theme to Thursday’s REIT Week 2010 general session, “Magnificent Milestones–A Look Ahead,” it was this: some property types are fully in recovery, while others are still waiting for it, at least among REITs that specialize in one or another of the food groups.
REIT Week 2010: Economic Outlook Optimistic, Except For When it Isn’t
The opening general session of REIT Week 2010, held at the downtown Chicago Hilton by the National Association of Real Estate Investment Trusts, featured two economists in a panel talk called “The Winds of Wisdom and Worry.” The presentation illustrated the old joke about putting all the world’s economists together end-to-end and still not being able to reach a conclusion.
WRIT Snaps Up Two Fully Leased Office Buildings near Quantico Marine Base for $68M
The Rockville, Md.-headquartered REIT acquired the fully leased assets, encompassing an aggregate 271,000 square feet of Class A space, from the developer of the business park, Fredericksburg, Va.-based Silver Cos.
Digital Realty Bolsters Datacenter Portfolio by Nearly 1M SF to the Tune of $725M
The portfolio’s properties are located in San Francisco, El Segundo, Calif., Oakland, Calif., Chandler, Az., and Chantilly, Va.
National Health Investors, Capital Funding Strike $20M Loan Participation Agreement
The agreement is targeted toward CFG borrowers seeking bridge-to-HUD financing. CFG has provided more than $1.5 billion in HUD-insured mortgages nationwide.
Bids Galore, but CBRE Realty Trust Wins 134,000-SF Time Warner Cable Regional HQ in Suburban San Diego
The Princeton, N.J.-based REIT has acquired the fully leased suburban San Diego property, home to Time Warner Cable’s regional corporate headquarters, in an all-cash deal–no debt attached.
Cedar in JV with RioCan for $53M Shopping Center Deal
The sale is a boon for the recession-battered retail market, which has taken a beating due to severely diminished consumer spending.