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%. Class I shares and institutional have no sales charge and may be purchased by specified classes of investors. The acquisition value of the property was $66.0 million. provides additional information that Griffin Capital and its affiliates believe may be of Type a symbol or company name. All Rights Reserved. United Airlines Soars Ahead of EarningsTime to Deplane? However, MFFO is not a useful measure in evaluating NAV because impairments are taken into account in determining NAV but not in determining MFFO. INVESTORS ARE URGED TO READ THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Griffin Capital Essential Asset REIT II, Inc. Class E Shares, Receive ZGEAEX Stock News and Ratings via Email. Fastest Corvette ever is all-wheel-drive gas-electric hybrid, Mullen Automotive - Short Squeeze is Possible - Not Inevitable, PepsiCo or Coke? MFFO also allows for a comparison of the performance of our portfolio with other REITs that are not currently engaging in acquisitions, as well as a comparison of our performance with that of other non-traded REITs, as MFFO, or an equivalent measure, is routinely reported by non-traded REITs, and we believe often used by analysts and investors for comparison purposes. Copy and paste multiple symbols separated by spaces. In computing MFFO, FFO is adjusted for certain non-operating cash items such as acquisition fees and expenses and certain non-cash items such as straight-line rent, amortization of in-place lease valuations, amortization of discounts and premiums on debt investments, nonrecurring impairments of real estate-related investments, mark-to-market adjustments included in net income (loss), and nonrecurring gains or losses included in net income (loss) from the extinguishment or sale of debt, hedges, foreign exchange, derivatives or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and after adjustments for consolidated and unconsolidated partnerships and joint ventures, with such adjustments calculated to reflect MFFO on the same basis. Backtested performance is developed with the benefit of hindsight and has inherent limitations. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. REITs with enhanced scale and experienced internal management are viewed more favorably by institutional investors and lenders, enhancing the REITs potential liquidity optionality and value to shareholders, said Michael J. Escalante, CEO and President of GCEAR and President of GCEAR II. Currency in USD Follow 2W 10W 9M 7.43 -2.08 (-21.87%) At close: January 13 Nareitis the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Griffin Capital has no control over this external site and cannot On February 20, 2015, we sold an asset for $14.3 million that we considered to be non-core to the portfolio, College Park Plaza, located in Indianapolis, Indiana, which was acquired with the Investment Grade Portfolio in November 2013. Market Commentary; 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009. 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. (Please see financial reconciliation tables and notes at the end of this release for more information regarding MFFO and FFO.). Real-time analyst ratings, insider transactions, earnings data, and more. How do we provide stable cash flow, downside protection, and create alpha? 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. 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 Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. As a result, our portfolio at December 31, 2014(1) consisted of 57 assets encompassing approximately 13.0 million square feet of space in 20 states with a total acquisition value of $2.0 billion. Baker McKenzie is providing legal counsel to Griffin Capital. 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. Funds from Operations and Modified Funds from Operations 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. 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. Griffin Capital 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. No cash balance or cash flow is included in the calculation. Further, backtesting allows the security selection methodology to be adjusted until past returns are maximized. When is Griffin Capital Essential Asset REIT ex-dividend date? There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. 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. 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. No offering of securities shall be made except by means of a prospectus meeting the requirements of the federal securities laws. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. 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. 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. Enter Your Email Below To Claim Your Report: New Report from the Award-winning Analyst Who Beat the Market Over 15 Years. 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. The Weiss investment rating of Griffin Capital Essential Asset REIT II, Inc. (--: ZGEAAX) is U. Current performance may be higher or lower than the performance shown. Griffin Capital Essential Asset REIT II Inc. (GCEAR II), a publicly registered non-traded real estate investment trust, has completed its merger transaction with Griffin Capital Essential Asset REIT, creating a $4.7 billion self-managed REIT. 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. Our calculation of FFO and MFFO is presented in the following table for the years ended December31, 2014, 2013 and 2012 (in thousands). The REIT's sponsor, Griffin Capital Corporation ("Griffin Capital"), is a privately-owned real estate company headquartered in Los Angeles. When indicators of potential impairment are present, we assess whether the carrying value of the assets will be recovered through the future undiscounted operating cash flows (including net rental and lease revenues, net proceeds on the sale of the property, and any other ancillary cash flows at a property or group level under GAAP) expected from the use of the assets and the eventual disposition. While impairment charges are excluded from the calculation of MFFO as described above, investors are cautioned that due to the fact that impairments are based on estimated future undiscounted cash flows and the relatively limited term of our operations, it could be difficult to recover any impairment charges through operational net revenues or cash flows prior to any liquidity event. Founded in 1995, the privately held firm is led by a seasoned team of senior executives with more than two decades of investment and real estate experience and who collectively have executed more than 650 transactions valued at over $22 billion. Is Dividend King PPG Industries A Buy Before Earnings? Griffin Capital Plaza, El Segundo, CA 90245. 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). Griffin Capital Essential Asset REIT II, Inc. was one of several REITs sponsored or co-sponsored by Griffin Capital. When autocomplete results are available use up and down arrows to review and enter to select. El Segundo, Calif. (June 29, 2015) Griffin Capital All Rights Reserved. Returns assume reinvestment of dividends and capital gains. Current performance may be higher or lower than the performance shown. Funds from operations, or FFO, as defined by the National Association of Real Estate Investment Trusts (NAREIT), was approximately $49.1 million and $(6.3) million for the years ended December 31, 2014 and 2013, respectively. This website uses cookies so that we can provide you with the best user experience possible. See what's happening in the market right now with MarketBeat's real-time news feed. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Data provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. 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. 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. The New Energy Crisis No One Saw Coming (Ad), Apple, Amazon, and Walmart are Investing in Solar Energy (Ad). What is Griffin Capital Essential Asset REIT II, Inc. Class E Shares' stock price today? As a result, we believe that the use of FFO, together with the required GAAP presentations, provides a more complete understanding of our performance relative to our competitors and a more informed and appropriate basis on which to make decisions involving operating, financing, and investing activities. 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. Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity How have ZGEAEX shares performed in 2023? All information is provided without warranty of any kind. About Griffin Capital Essential Asset REIT II, Inc. Griffin Capital Essential Asset REIT II, Inc. is a publicly registered, non-traded REIT focused on acquiring a portfolio consisting primarily of single tenant business essential properties throughout the United States, diversified by corporate credit, physical geography, product type, and lease duration. How much is Griffin Capital Essential Asset REIT's dividend? Gain or Loss from the extinguishment of debt. Linking to an external site does not El Segundo, CA 90245 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. 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. Further, since the measure is based on historical financial information, MFFO for the period presented may not be indicative of future results or our future ability to pay our dividends. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. 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. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. Copy and paste multiple symbols separated by spaces. Insulet Has Potential To Gain More Than Analysts Are Forecasting. 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. Because FFO calculations exclude such items as depreciation and amortization of real estate assets and gains and losses from sales of operating real estate assets (which can vary among owners of identical assets in similar conditions based on historical cost accounting and useful-life estimates), they facilitate comparisons of operating performance between periods and between other REITs. With the risk of recession a dominant theme for 2023, Nareits Ed Pierzak explains that a recession does not have to equate to negative property total returns.. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Dividend History - Griffin Capital Essential Asset REIT II, Inc. - Weiss Ratings. Get short term trading ideas from the MarketBeat Idea Engine. By accepting, you are consenting to our use of this technology and the capture of this data. Shortly following the closing of the merger, GCEAR II, as the surviving entity, intends to conduct a tender offer for all shareholders of at least $100 million. About Griffin Capital Essential Asset REIT, Inc. Griffin Capital Essential Asset REIT, Inc. is a publicly-registered, non-traded REIT with a portfolio, as of September 30, 2018, of 76 office and industrial properties totaling 20.1 million rentable square feet, located in 20 states, representing total REIT capitalization of approximately $3.5 billion. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. By combining the durability Dividend Touch device users, explore by touch or with swipe gestures. 1 Includes the property information related to the acquisition of an 80% ownership interest in the Digital Realty joint venture. 2023, Nasdaq, Inc. All Rights Reserved. Apple's next ex-dividend date has not been announced yet. March 26, 2015 12:01 ET 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. The table shows Griffin Capital Essential Asset REITs dividend history, including amount per share, payout frequency, declaration, record, and payment dates. This means that every time you visit this website you will need to enable or disable cookies again. Market-leading rankings and editorial commentary - see the top law firms & lawyers for Real estate investment trusts (REITs) in United States Financed termination fee. Register for your free account today atdata.nasdaq.com. Thor Industries Hammered Its Numbers. Griffin Capital Essential Asset REIT shareholders who own GCEA stock before this date received Griffin Capital Essential Asset REIT's last dividend payment of $0.06 per share on Jan 31, 2020. How do I buy shares of Griffin Capital Essential Asset REIT II, Inc. Class E Shares? Dividend History; Market Events Economic Calendar; Earnings; IPO Calendar; Dividend Calendar; SPO Calendar; Holiday Calendar; Analyst Activity 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. 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. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. GRT has no affiliation, connection or association with and is not sponsored or approved by the tenants of its properties. If and to the extent that any of the participants will receive any additional benefits in connection with the merger, the details of those benefits will be described in the Joint Proxy Statement/Prospectus relating to the merger. 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