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Hudson Pacific Sells Element LA Office Campus
Businesswire· 2025-12-05 00:00
Core Viewpoint - Hudson Pacific Properties, Inc. has successfully sold the Element LA office campus for $150 million, along with an $81 million payment for lease termination, totaling $231 million in gross proceeds, which will be used to reduce debt and enhance liquidity for future investments [1][3]. Group 1: Sale Details - The Element LA office campus spans 284,000 square feet and is located in West Los Angeles [1]. - The total proceeds from the sale and lease termination amount to $231 million, with $206 million allocated to repay CMBS debt associated with the property [1]. Group 2: Historical Context - Hudson Pacific acquired the office and warehouse assets for $101 million over a decade ago and successfully transformed and leased the property as a creative office campus [2]. Group 3: Strategic Implications - The CEO of Hudson Pacific stated that the sale reflects the value created through the transformation and stabilization of the asset, contributing to debt reduction and increased liquidity for reinvestment in growth opportunities, particularly in the Bay Area and Seattle [3]. Group 4: Company Overview - Hudson Pacific Properties is a real estate investment trust focused on providing end-to-end real estate solutions for tech and media tenants, leveraging strategic relationships and expertise in property development [4].
Global Medical REIT Inc. Announces Retirement of Ronald Marston from its Board of Directors and Declares 2025 Fourth Quarter Common and Preferred Dividends
Businesswire· 2025-12-04 21:10
Core Viewpoint - Global Medical REIT Inc. announces the retirement of Ronald Marston from its Board of Directors and declares dividends for the fourth quarter of 2025 for both common and preferred stocks [1][2][3]. Board of Directors - Ronald Marston has been an independent director since 2015 and has held various leadership roles, including chair of the Nominating and Corporate Governance Committee [2]. - His retirement will take effect at the end of his current term, concluding at the Company's Annual Meeting of Stockholders in 2026 [2]. Dividends - The Board declared a cash dividend of $0.75 per share for the fourth quarter of 2025, payable on January 9, 2026, to stockholders of record as of December 19, 2025 [3]. - A quarterly cash dividend of $0.46875 per share on Series A Cumulative Redeemable Preferred Stock will be payable on February 2, 2026, to stockholders of record as of January 15, 2026 [4]. - A quarterly cash dividend of $0.388 per share on Series B Cumulative Redeemable Preferred Stock will also be payable on February 2, 2026, to stockholders of record as of January 15, 2026 [5]. Company Overview - Global Medical REIT Inc. is a net-lease medical REIT that acquires healthcare facilities and leases them to physician groups and healthcare systems [7].
Broadstone Net Lease Provides Business Update and Issues 2026 Guidance in Conjunction with its Upcoming Investor Day
Businesswire· 2025-12-01 11:30
Core Viewpoint - Broadstone Net Lease, Inc. (BNL) is entering 2026 with strong momentum and a clear strategy for growth, as highlighted by CEO John Moragne [2][3]. Business Update - BNL has provided an update on its business activities through December 1, 2025, and issued guidance for fiscal year 2026, expecting an AFFO of $1.53 to $1.57 per diluted share, representing approximately 4.0% growth at the midpoint [3][4]. - The guidance is based on key assumptions regarding real estate investments, property dispositions, and capital market activities throughout the year [3]. Investor Day - The guidance was issued in conjunction with BNL's upcoming Investor Day scheduled for December 2, 2025, where the company plans to provide deeper insights into its long-term strategy and operational execution [4]. Development Projects - As of November 25, 2025, BNL has several in-process and stabilized development projects, including retail and industrial properties, with projected rentable square feet and annual rent escalations detailed in their reports [5][6]. - The company has invested $696.7 million year-to-date, including $416.6 million in new property acquisitions and $181.8 million in build-to-suit developments [6]. Financial Guidance - BNL maintains its 2025 AFFO guidance of $1.49 to $1.50 per share, indicating a growth of 4.2% to 4.9% [6]. - The company anticipates investments in real estate properties between $500 million and $625 million and dispositions between $75 million and $100 million [6]. Portfolio Overview - As of September 30, 2025, BNL's diversified portfolio consists of 759 individual net leased commercial properties across the U.S. and Canada, focusing on single-tenant commercial real estate [8].
Dream Impact Trust Announces Voting Results of Special Meeting of Unitholders
Businesswire· 2025-11-27 20:48
Core Points - Dream Impact Trust announced the approval of amendments to its 5.50% convertible unsecured subordinated debentures, changing the conversion price from $31.02 per unit to $2.75 per unit [1][4] - The amendments resolution was approved by approximately 44.43% of the votes cast by unitholders present at the special meeting [3] - The Trust plans to implement these amendments in the fourth quarter of 2025, which includes an increase in the interest rate of the debentures from 5.50% to 6.50% starting January 31, 2026 [4] Voting Results - A total of 8,183,043 units of the Trust were represented at the meeting, either in person or by proxy [3] - The amendments resolution required a simple majority for approval, which was achieved with the votes cast [2] Company Overview - Dream Impact Trust is an open-ended trust focused on impact investing, with a portfolio of real estate assets managed by an experienced team [5] - The Trust aims to create positive impacts through its focus on environmental sustainability, affordable housing, and inclusive communities [5]
Orion Properties Announces that Director Nomination Notice from Kawa is Invalid
Businesswire· 2025-11-26 14:10
Core Viewpoint - Orion Properties Inc. announced that the nomination notice submitted by The Kawa Fund Limited for five candidates to stand for election to the Board of Directors at the 2026 annual meeting is invalid due to non-compliance with the company's bylaws [1][2]. Summary by Sections Board of Directors' Review - The Board of Directors unanimously determined that Kawa's notice did not meet several requirements outlined in Orion's bylaws, including the necessity for Kawa to be a record holder of the company's common stock [2]. - The Board emphasized that Kawa failed to provide proof of being an eligible stockholder and did not comply with other procedural requirements, such as a lack of detailed plans for the company beyond previous acquisition proposals [2]. Company Commitment - Orion's Board and management are dedicated to creating long-term value for all stockholders and will continue to engage with the investment community regarding the company's strategy and performance [2]. - The company will maintain ongoing communications with Kawa despite the invalid nomination notice [2]. Future Actions - Orion will announce the date of the 2026 Annual Meeting and file proxy materials with the SEC in due course, indicating that no action is required from stockholders at this time [3]. Company Overview - Orion Properties Inc. is an internally-managed real estate investment trust (REIT) focused on owning, acquiring, and managing a diversified portfolio of office properties across the United States, primarily leased to creditworthy tenants [4]. - The company was founded on July 1, 2021, and began trading on the New York Stock Exchange on November 15, 2021 [4].
Seritage Growth Properties Makes $130 Million Loan Prepayment
Businesswire· 2025-11-25 22:30
Core Points - Seritage Growth Properties has made a voluntary prepayment of $130 million towards its $1.6 billion term loan facility with Berkshire Hathaway, funded by recent property sales, including the Aventura, FL property [1][2] - Since December 2021, the company has repaid a total of $1.53 billion, leaving $70 million outstanding on the term loan facility, which will reduce annual interest expenses by approximately $9.2 million [2] - Cumulative repayments since December 2021 have led to a total reduction of approximately $108.6 million in annual interest expenses related to the term loan facility [2] Company Overview - Seritage Growth Properties is a national owner and developer of retail, residential, and mixed-use properties, with a portfolio consisting of interests in 13 properties, totaling approximately 1.3 million square feet of gross leasable area and 198 acres of land as of September 30, 2025 [3]
Dream Industrial REIT Announces November 2025 Monthly Distribution
Businesswire· 2025-11-19 16:06
Core Points - Dream Industrial REIT announced a monthly distribution of 5.833 cents per Unit for November 2025, which annualizes to 70 cents [1] - The distribution will be payable on December 15, 2025, to unitholders of record as of November 28, 2025 [1] Company Overview - Dream Industrial REIT is an owner, manager, and operator of a diversified global portfolio of industrial properties, comprising 340 assets (552 buildings) with approximately 73.2 million square feet of gross leasable area across Canada, Europe, and the U.S. as of September 30, 2025 [2] - The REIT aims to deliver strong total returns to unitholders through secure distributions and growth in net asset value and cash flow per unit, supported by its high-quality portfolio and investment-grade balance sheet [2] Financial Performance - Dream Industrial REIT reported a strong Q3 2025, with a 4.3% growth in Funds From Operations (FFO) per Unit and a 6.4% growth in Cash Property Net Operating Income (CP NOI) [6]
Dream Office REIT Announces November 2025 Monthly Distribution
Businesswire· 2025-11-19 16:06
Core Points - Dream Office REIT announced a monthly distribution of 8.333 cents per REIT Unit for November 2025, which annualizes to $1.00 [1] - The distribution will be payable on December 15, 2025, to unitholders of record as of November 28, 2025 [1] - Dream Office REIT is a leading office landlord in downtown Toronto, managing over 4.0 million square feet of high-quality assets [2] Financial Results - Dream Office REIT will release its financial results for Q3 2025 on November 6, 2025, with a conference call scheduled for November 7, 2025, at 10:00 a.m. (ET) [4][7] - The financial results will cover the three months ended September 30, 2025 [4]
Lineage Announces Proposed Offering of Euro-Denominated Senior Notes
Businesswire· 2025-11-19 11:25
Core Viewpoint - Lineage, Inc. plans to offer euro-denominated senior notes through its subsidiary, Lineage Europe Finco B.V., to raise funds for repaying outstanding amounts under its revolving credit facility and for general corporate purposes [1][2]. Group 1: Offering Details - The proposed offering will consist of senior unsecured notes that will be fully guaranteed by Lineage, Inc. and its subsidiaries, excluding certain subsidiaries [1]. - The notes will not be registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A or to non-U.S. persons in compliance with Regulation S [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to be used primarily for repaying amounts outstanding under the revolving credit facility and for other general corporate and working capital purposes [2]. Group 3: Regulatory Notices - The offering is not intended for retail investors in the European Economic Area (EEA) or the United Kingdom, and no key information document has been prepared for such investors [5][8]. - The press release is directed only at relevant persons with professional experience in investment matters and should not be relied upon by non-relevant persons [6][7].
Property Play: Leading office REIT CEO says the market is overbuilt
CNBC Television· 2025-11-18 13:27
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