Nareits ESG JumpStart: Virtual Class Series. 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. Amortization of in-place lease valuation. Funds from Operations and Modified Funds from Operations Copyright 2023 DividendInvestor.com. Voit muuttaa valintojasi milloin tahansa siirtymll yksityisyydenhallinta-asetuksiisi. 3 Includes Griffin-American Healthcare REIT II, Inc. (GAHR II) which merged with NorthStar Realty Finance Corporation in December 2014. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. We use debt as a source of capital to acquire properties in our portfolio. 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. Through the end of 2014, Griffin Capital and its affiliates owned, managed, sponsored and/or co-sponsored a portfolio consisting of approximately 29 million square feet of space, located in 33 states and 1.0 million square feet located in the United Kingdom, representing approximately $6.7(3) billion in asset value. 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. Historical Dividend Data powered by DividendInvestor.com. 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). There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Copyright Nareit 2023. No cash balance or cash flow is included in the calculation. Enter Your Email Below To Claim Your Report: New Report from the Award-winning Analyst Who Beat the Market Over 15 Years. 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"). 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. MFFO is useful in assisting management and investors in assessing our on-going ability to generate cash flow from operations and continue as a going concern in future operating periods, and in particular, after the offering and acquisition stages are complete and NAV is disclosed. 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. 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. 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. The curriculum will cover each aspect of ESGtopics include program planning, implementation and reporting, DEI initiatives, climate change and carbon accounting. PepsiCo is the Winner, Here's Why. "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 Can Alaska Air Continue Soaring Above The Airline Industry? Griffin Capital Essential Asset REIT II Inc (OTCBB:GRTAA) Dividend History Click to see Griffin Capital Essential Asset REIT II Inc Dividend Data, Dates and more financial April 29, 2014. 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. Sign up today for your free Reader Account! 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. Touch device users, explore by touch or with swipe gestures. United Airlines Soars Ahead of EarningsTime to Deplane? Export data to Excel for your own analysis. This website uses cookies so that we can provide you with the best user experience possible. Morris, Manning & Martin, LLP is providing legal counsel to GCEAR IIs special committee of the board of directors. Fastest Corvette ever is all-wheel-drive gas-electric hybrid, Mullen Automotive - Short Squeeze is Possible - Not Inevitable, PepsiCo or Coke? Dividend 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. Griffin Capital Essential Asset REIT, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. Dividends - World. Additional information about Griffin Capital is available at www.griffincapital.com. Dividend Stocks Directory; Monthly Dividend Directory; REIT Directory; Preferred Stocks; Preferred Stocks Alphabetically; UTILITY STOCKS; Email Alerts; Dividend Detector. When autocomplete results are available use up and down arrows to review and enter to select. 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. 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. [email protected] Add GCEA to your watchlist to be reminded of GCEA's next dividend payment. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. All Rights Reserved. 326 E 8th St #105, Sioux Falls, SD 57103 When autocomplete results are available use up and down arrows to review and enter to select. Cathie Wood Is Buying These Stocks, Should You? Copy and paste multiple symbols separated by spaces. Please return soon. 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. This information is provided for illustrative purposes only. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) At close: January 13 Modified funds from operations, or MFFO, to common stockholders as defined by the Investment Program Association (IPA), was approximately $63.3 million for the year, representing year-over-year growth of approximately 231%. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) As of 08:06AM EST. 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. Thor Industries Hammered Its Numbers. United States. This virtual event features six 90-minute classes about the fundamentals of ESG in commercial real estate. Griffin Realty Trust 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. 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. Does Griffin Capital Essential Asset REIT pay dividends? 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). 1 Includes the property information related to the acquisition of an 80% ownership interest in the Digital Realty joint venture. Stocks & Funds. How do I buy shares of Griffin Capital Essential Asset REIT II, Inc. Class E Shares? Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. Backtested performance is not an indicator of future actual results. Russian strike toll: 45 dead civilians, including 6 children. 2023 Griffin Capital Company, LLC. The asset was allocated an initial acquisition value of $7.4 million, and approximately $2.0 million was invested into the property subsequent to our acquisition. As of December 31, 2014, total acquisition value and portfolio square footage increased by approximately 58% and 44%, respectively, since December 31, 2013. Does it Matter Folks Aren't Starry-Eyed Over Pepsi's New Soda? Americas Blue-Chip Landlord. Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. Identify stocks that meet your criteria using seven unique stock screeners. IPO Calendar Earnings Calendar Dividend Calendar Economic Calendar. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. In the future, the SEC or NAREIT may decide to standardize the allowable exclusions across the REIT industry, and we may have to adjust the calculation and characterization of this non-GAAP measure. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. 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. 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. Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock price today? In-depth profiles and analysis for 20,000 public companies. Market Holidays Daily Analyst Ratings Daily Insider Trading. Griffin Capital Essential Asset REIT (GCEA) does not pay a dividend. Griffin Capital Essential Asset REIT II, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. provides additional information that Griffin Capital and its affiliates believe may be of 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. Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Apple's next ex-dividend date has not been announced yet. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. Sign in to your free account to enjoy all that MarketBeat has to offer. Griffin Capital Plaza, El Segundo, CA 90245. Acquisition-related costs may negatively affect our operating results, cash flows from operating activities and cash available to fund distributions during periods in which properties are acquired, as the proceeds to fund these costs would otherwise be invested in other real estate related assets. 1-202-739-9400 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. Linking to an external site does not Griffin Capital Essential Asset REIT II, Inc. Class I Shares, Do Not Sell My Personal Information (CA Residents Only). EL SEGUNDO, Calif., March 26, 2015 (GLOBE NEWSWIRE) -- Griffin Capital Essential Asset REIT, Inc. (the "Essential Asset REIT," "we," "us," "our") announced today its operating results for the year ended December 31, 2014. No offering of securities shall be made except by means of a prospectus meeting the requirements of the federal securities laws. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Recommendation -- Prev Close -- The New Energy Crisis No One Saw Coming (Ad), Apple, Amazon, and Walmart are Investing in Solar Energy (Ad). All rights reserved. We could not be more thrilled to announce these transactions. 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. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. 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. In connection with the rebranding, the Company unveiled a new logo along with the launch of its new website, www.grtreit.com. As of September 30, 2018, Griffin Capital Essential Asset REIT II, Inc. has acquired 35 office and industrial buildings totaling approximately 7.3 million rentable square feet and total REIT capitalization of approximately $1.3 billion. 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. 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. 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. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings. (Please see financial reconciliation tables and notes at the end of this release for more information regarding MFFO and FFO.). Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. Griffin Capital Essential Asset REIT II, Inc. Class E Shares (ZGEAEX) Nasdaq - Nasdaq Delayed Price. By excluding acquisition-related costs, MFFO may not provide an accurate indicator of our operating performance during periods in which acquisitions are made. 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