Luvenia:
The largest change will be in the reduction of the Red Lobster and simultaneous shrinking of the casual dining restaurant segment.
Sparkle:
This will help achieve the target of 1.25%-1.5% of same store growth, with a reduced weighted average lease term (WALT) of no less than 10 years.
Iona:
The percentage of flat leases will be noticeably lower.
Qiana:
Vereit is one of the largest FedEx landlords.
Laveta:
The main takeaway regarding offices from the presentation was that these are typically leased to a single corporate tenant and house operations that are either mission critical, or corporate and regional headquarters.
Hyo:
That said, management shared that at the property level, RL sales have increased for the past three quarters; and that the credit metrics for the lessee Golden Gate Capital have improved since the deal was first signed.
Alexis:
It can be broken down into three main categories: Retail, Restaurant and Office/Industrial.
Martine:
While Vereit has internalized all property management, when it comes to dispositions real estate brokers are often utilized to obtain the highest price.
Roberta:
However, individual properties can go from being non-core to core through active asset management: re-tenanting and extending the lease term would be two examples.
Kareen:
However, these properties are usually single-purpose entities (SPEs) with secured debt; therefore selling them will help VER to reduce its percentage of secured debt, a step along the way to achieving an investment grade rating.
Vereit Inc. (NYSE:VER)
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