Two different stories this week meet together for some good news on the office front.
Griffin Realty Trust sold a majority interest in a 41-property, 53-building office portfolio at a $1.13 billion valuation, according to a company press release. No mention of the buyers or of what exact percentage is being sold.
However, the "portfolio includes properties with shorter weighted average lease terms and higher estimated future capital expenses in relation to the balance of GRT's portfolio." That would leave GRT, in addition to that minority interest, with 57 office buildings, as well as 23 industrial that are primarily net-leased to creditworthy single tenants.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
