Columbia Property Trust Releases Second Quarter 2021 Results
Full results and additional information on the recent highlights summarized below can be found in the Supplemental Information package:
- Announces second quarter results, including Net Income per share and Normalized FFO per share;
July 23, replaced the acquisition loan at our Terminal Warehouse Joint Venture with a construction loan with a total capacity of $1.25 billion, which matures on July 23, 2025, with two one-year extension options. Columbia and certain joint venture partners entered into a completion guarantee in connection with the construction loan.
Portfolio 93.5% leased, with 75,000 square feet leased during the quarter with positive GAAP and cash rent spreads, including 27,600 square feet of leasing at 116 Huntington in
Bostonand 19,400 square feet of leasing at 80 M Streetin Washington, D.C.;
- Total rent collections stood at 98.0% for the second quarter, with deferral agreements executed on another 0.2%; and
- Board continues to pursue a previously announced thorough review of the Company's business, strategies, and positioning, including undertaking a comprehensive strategic alternatives review process that has included outreach to, and identification of, potential transaction counterparties. This review remains ongoing, and there is no assurance that this process will result in any transaction or other action.
Direct link to the Supplemental Information Package: https://ir.columbia.reit/files/doc_financials/2021/q2/CXP-FSP-Q2-2021-FINAL.pdf
To access the Form 10-Q, please visit: https://ir.columbia.reit/financials/sec-filings/
As previously announced, the Company will host a live conference call and audio webcast later today at
Direct link to the Conference Call Webcast: https://event.on24.com/wcc/r/3192454/9AE9EF8B6365E903A91D79EE73786BB9
A replay of the conference call will be available online in the Investor Relations section of the Company’s website at https://ir.columbia.reit shortly after the call and archived for approximately twelve months.
Certain statements in this press release, including statements regarding future business operations, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. Our actual results may differ materially from projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements, see Columbia Property Trust’s filings with the
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