NEW YORK, September 12, 2013 /PRNewswire/ --
Today, Analysts' Corner announced new research reports highlighting Boston Properties Inc. (NYSE: BXP), Digital Realty Trust Inc. (NYSE: DLR), Alexandria Real Estate Equities Inc. (NYSE: ARE), Highwoods Properties Inc. (NYSE: HIW), and Chambers Street Properties (NYSE: CSG). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Boston Properties Inc. Research Report
On September 9, 2013, Boston Properties Inc. (Boston Properties) reported that it has finalized an agreement to sell a 45% interest in the ground leasehold interest and related tax credits in Times Square Tower - a Class A office tower located in the Times Square in New York City, to an affiliate of Norges Bank for a gross purchase price of $684 million in cash. According to the Company, the property is free from debt. Boston Properties' Executive Chairman Mortimer B. Zuckerman said, "We are extremely pleased to form a new and important relationship with such a strong and reputable organization as Norges Bank, while at the same time once again demonstrating our ability to create and realize value for our shareholders through our development and management expertise." The Company further informed that Boston Properties and an affiliate of Norges Bank will form a joint venture upon closing of the transaction, and Boston Properties will retain property and leasing management for the venture. The Full Research Report on Boston Properties Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/c1da_BXP]
Digital Realty Trust Inc. Research Report
On September 3, 2013, Digital Realty Trust Inc. (Digital Realty) announced that the Company has completed the acquisition of a 15,000 square metre site in Osaka, Japan for a purchase price of $10.5 million. The Company informed that the acquisition symbolizes Digital Realty's entrance into the Japan market. Michael F. Foust, CEO of Digital Realty, commented, "Our customers continue to demand enterprise-quality data centres on a global scale. The acquisition of our first site in Japan enables us to expand our world-class data centre platform to meet the growing domestic and global demand for critical IT facilities in Osaka." The Full Research Report on Digital Realty Trust Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/2eca_DLR]
Alexandria Real Estate Equities Inc. Research Report
On September 5, 2013, Alexandria Real Estate Equities Inc.'s (Alexandria Real Estate) announced that on August 30, 2013, the Company has amended and extended its current revolving credit agreement (the Amended Credit Agreement). According to the Company, the Amended Credit Agreement modifies certain financial covenants, reduces the applicable interest rate margins and facility fees and extends the maturity date to January 2019, provided that the Company exercises its right to extend the maturity date twice by an additional six months for each exercise upon the satisfaction of certain conditions. Dean A. Shigenaga, CFO for Alexandria Real Estate commented, "Since September 30, 2012, the Company has reduced outstanding borrowings under its unsecured senior line of credit and bank term loans by $563 million from approximately $1.8 billion to $1.2 billion as of June 30, 2013. Our relationship credit facility lenders continue to provide significant and important liquidity to the Company through these credit facilities, including $1.5 billion available for borrowing under its unsecured senior line of credit." The Full Research Report on Alexandria Real Estate Equities Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/5637_ARE]
Highwoods Properties Inc. Research Report
On September 5, 2013, Highwoods Properties Inc. (Highwoods) announced that it has successfully procured The Pinnacle at Symphony Place - a 29-story, 520,000 square foot LEED Gold Class A office building, in CBD Nashville. Highwoods informed that the Company's total investment in the building is expected to be $152.8 million. According to the Company, the Pinnacle is currently 84.9% leased and is expected to generate full year 2014 cash and GAAP net operating income of $8.8 million and $10.7 million, respectively. Ed Fritsch, President and CEO of Highwoods, commented, "The Pinnacle, the finest Class A CBD office building in all of Tennessee, is an outstanding addition to our portfolio. The building has an average remaining lease term of 11 years, with less than two percent expiring in the next five years, and we forecast occupancy at The Pinnacle to 93% within two years." The Full Research Report on Highwoods Properties Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/b25d_HIW]
Chambers Street Properties Research Report
On September 4, 2013, Chambers Street Properties (Chambers Street) announced that it has finalized two long-term leases at 505 Century, which brings the warehouse/distribution property located in Allen, Texas to 100% occupancy. Chambers Street stated that Texas Valve & Fitting Company, LLC agreed to a long-term lease totaling 22,400 square feet and Standex International Corporation agreed to a long-term lease amounting to 33,144 square feet. Glenn Wylie, Assistant Vice President, Portfolio Management, Chambers Street commented, "We believe the location and quality of the building was an integral part in both companies' strategic plans. 505 Century, which was built in 1997, has exceptional interstate access and is situated in the northeast submarket along the Richardson/Plano Telecom Corridor in Metro Dallas." The Full Research Report on Chambers Street Properties - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/bd89_CSG]
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