Asset Sales and Mergers Bring Growth Opportunities - Research Report on Digital Realty, Newcastle, Mack-Cali, BioMed Realty, and Brandywine Realty
Jun 10, 2013, 08:00 ET
NEW YORK, June 10, 2013 /PRNewswire/ --
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Today, Wall Street Reports announced new research reports highlighting Digital Realty Trust, Inc. (NYSE: DLR), Newcastle Investment Corp. (NYSE: NCT), Mack-Cali Realty Corp. (NYSE: CLI), BioMed Realty Trust Inc. (NYSE: BMR), and Brandywine Realty Trust (NYSE: BDN). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Digital Realty Trust, Inc. Research Report
On May 30, 2013, Digital Realty Trust, Inc. (Digital Realty) announced the completion of the acquisition of a six-building portfolio consisting of operating data centers and flex office space totaling approximately 337,000 square feet at the MetCenter Business Park in Austin, Texas. Currently the overall portfolio is 90% leased to a variety of data center, biotechnology, technology, and telecommunications enterprises. The Company reported that the purchase price was $31.9 million. According to Scott Peterson, Chief Acquisitions Officer at Digital Realty, "The acquisition of this portfolio achieves several key objectives for us. It expands our existing data center footprint in the Austin market, while providing stable cash flow immediately at an attractive going-in cap rate. Second, it provides near-term opportunity to add value by lease existing vacant space. And third, it offers the option to convert a portion of the property to data center space over the longer term as leases expire." 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.wsreports.com/r/full_research_report/26c9_DLR]
Newcastle Investment Corp. Research Report
On June 3, 2013, Newcastle Investment Corp. (Newcastle) announced that it has completed the sale of 100% of the assets in Newcastle CDO IV. The Company sold $153 million face amount of collateral at an average price of 95% of par, or $145 million. The sale will result in $77 million of third-party debt being paid off at par and the termination of the trust. The Company directly holds c.50% of CDO IV's capital structure. This transaction is expected to result in approximately $68 million of proceeds to the Company. Newcastle expects the final distribution of funds from CDO IV to occur on or about June 24, 2013. As a result of this transaction, the Company will record a GAAP gain on sale of approximately $5 million in Q2 2013. The Full Research Report on Newcastle Investment Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/cd4e_NCT]
Mack-Cali Realty Corp. Research Report
On June 3, 2013, Mack-Cali Realty Corp. (Mack-Cali) announced that it has sold a building located at 51 Imclone Drive in Branchburg, New Jersey for approximately $6.2 million. The property is a single tenant, two-story, 63,213-square foot commercial real estate property. In other news, on May 30, 2013, Mack-Cali announced that it has sold its 16 and 18 Sentry Park West commercial real estate properties in Blue Bell, Pennsylvania for approximately $19.3 million, to a fund sponsored by Keystone Property Group. The Company retains a carried passive economic interest in the two properties subject to future economic performance of the assets. The Full Research Report on Mack-Cali Realty Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/50f1_CLI]
BioMed Realty Trust Inc. Research Report
On June 3, 2013, BioMed Realty Trust Inc. (BioMed Realty) and Wexford Science & Technology, LLC (Wexford Science) announced that the merger between the two companies has been completed. Wexford Science will operate as a wholly-owned subsidiary of BioMed Realty, developing institutional quality life science real estate for academic and medical research organizations with specialty expertise in urban development and redevelopment of life science real estate. The aggregate consideration for Wexford Science at the close of the transaction was approximately $672 million. This total reflects the estimated initial consideration of $640 million adjusted for additional construction and development costs incurred since the date of the merger agreement (March 26, 2013) and the value of common stock and operating partnership units issued by BioMed Realty as consideration. As a part of the merger, approximately $192 million in debt at fair value, net of restricted cash reserves, will be assumed by BioMed Realty. The Full Research Report on BioMed Realty Trust Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/27da_BMR]
Brandywine Realty Trust Research Report
On May 30, 2013, Brandywine Realty (Brandywine Realty) Trust announced that its Board of Trustees has declared a quarterly cash dividend of $0.15 payable on July 19, 2013 to shareholders of record on July 5, 2013. The Board of Trustees also declared a dividend of $0.43 for each 6.9% Series E Cumulative Redeemable preferred share, payable on July 15, 2013 to shareholders of record on June 30, 2013. The Company will also release its Q2 2013 earnings after the market close on Wednesday, July 24, 2013 and will hold its second quarter conference call on Thursday, July 25, 2013 at 9:00 a.m. EDT. The Full Research Report on Brandywine Realty Trust - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/e12e_BDN]
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SOURCE Wall Street Reports
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