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Columbia Property Trust (NYSE: CXP) announced the expected completion of its merger with affiliates of PIMCO around December 8, 2021. This merger includes a special cash dividend of $2.17 per share, to be paid on the same day, which will adjust the merger consideration to $19.30 per share in cash. The completion is subject to stockholder approval and customary closing conditions. For more details, refer to the definitive proxy statement filed with the U.S. SEC.
Columbia Property Trust (NYSE: CXP) has secured a lease for two full floors at its new office development, 799 Broadway, located in Manhattan's Greenwich Village and Union Square. The 25,000-square-foot lease marks the first to be signed at the building, which prioritizes employee wellness with features like touchless systems, extensive outdoor spaces, and a luxury fitness center. The building aims for WELL Building certification, enhancing its appeal to high-growth companies. Columbia reports strong leasing interest, indicating a healthy demand for modern office spaces.
Columbia Property Trust (CXP) has achieved the WELL Health-Safety Rating for seven of its properties, totaling 2.4 million square feet. This certification, awarded by the International WELL Building Institute, recognizes operational policies and safety protocols aimed at ensuring occupant health in a post-COVID-19 environment. Columbia plans to certify the remainder of its portfolio through Fitwel by year-end. The certified properties feature advanced safety measures, including air purification and enhanced sanitation protocols, reflecting Columbia's commitment to occupant well-being.
Columbia Property Trust (NYSE: CXP) has entered a definitive agreement to be acquired by PIMCO for
Columbia Property Trust (NYSE: CXP) has declared a quarterly cash dividend of $0.21 per share, totaling $0.84 annually, for Q3 2021. This dividend will be disbursed on September 15, 2021, to shareholders on record as of September 1, 2021. Columbia Property Trust focuses on high-quality office properties across major US cities, with a portfolio exceeding six million rentable square feet and an investment-grade rating from Moody’s and S&P Global Ratings. The company aims to create value through effective asset management and property development.
Columbia Property Trust (NYSE: CXP) released its second-quarter financial results for 2021, posting a net income per share and normalized FFO per share. The portfolio is 93.5% leased, with 75,000 square feet leased in the quarter and a total rent collection rate of 98.0%. The company replaced its acquisition loan with a $1.25 billion construction loan maturing in 2025. Additionally, a thorough review of business strategies is ongoing, with no assurance of resulting transactions. For full results, access the Supplemental Information Package and Form 10-Q online.
Columbia Property Trust (NYSE: CXP) announced the signing of four leases at its 116 Huntington Avenue property in Boston, totaling 33,000 square feet. This includes three lease extensions and expansions, and a new lease with diverse tenants like Longpoint Realty Partners and Imara. The building is now nearly 90% leased and located in a prime Back Bay area. Columbia has made significant building enhancements since acquiring it in 2015. They are also in talks with restaurant operators to repurpose the ground floor space previously occupied by Lucca Restaurant.
Columbia Property Trust plans to release its financial results for the period ending June 30, 2021, post-market on July 29, 2021. A live audio webcast and conference call will follow at 5:00 p.m. ET. Participants can access the event through the Investor Relations section of Columbia's website. The company manages a high-quality office portfolio of 15 properties across major cities and oversees over eight million square feet for private investors. Columbia holds investment-grade ratings from Moody’s and S&P Global Ratings.
Columbia Property Trust (NYSE: CXP) has been awarded the 2021 Green Lease Leader recognition by the Department of Energy’s Better Buildings Alliance and the Institute for Market Transformation. This Gold-level recognition highlights Columbia's commitment to sustainability and energy efficiency by implementing practices such as utility data tracking and tenant-engagement in sustainability efforts. Columbia oversees a portfolio of 15 properties and is part of a national trend towards green leases in commercial real estate, collectively representing over 2 billion square feet.
