Wells REIT II Inc. has purchased 333 Market St., a 657,115-square-foot office building in San Francisco's financial district that is fully leased to Wells Fargo Bank.
The Atlanta REIT, whose shares do not trade on any exchange, purchased the 33-story building from the Korean Federation of Community Credit Cooperatives, which bought it in 2010 for $333 million, or $507.76/sf. Wells Fargo leases the building through 2026. It is said to have also provided...
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Breaking mortgage, CMBS, and REIT news
Quarterly league tables with rankings of B-piece buyers, book runners, and lenders
Top Loan Contributors Domestic, Private-Label CMBS - 1H2014
July REIT Performance Flat, but Outpaces Larger Stock Market The FTSE NAREIT All REIT Index’s July return of -0.19 percent was relatively healthy compared to the overall stock market, which ended its months-long push upward during July. REITs continued to outperform the DJIA (-1.56 percent), S&P 500 (-1.38 percent), and the NASDAQ (-0.87 percent). Infrastructure REITs were the best performing...
Office REITs Beating 2Q Earnings Estimates Office REITs have begun announcing second quarter earnings, and many are beating analyst estimates. Boston Properties Inc.(BXP), the largest office REIT, reported second-quarter funds from operation, or FFO, of $1.35/share this week, slightly exceeding guidance and analyst estimates. SL Green Realty Corp. (SLG) also beat analyst’s estimates with strong results that included...
Non-traded REITs Contribute to Listed REIT Expansion Non-traded REITs, especially those focused on healthcare, lodging, and retail, have been very popular in recent years and have become a notable source of expansion for the listed REIT market. Collectively, they raised $8.8 billion during the first half of 2014 and sales are in line to reach $20 billion by year end...