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January 7, 2014
06:19 EDTBDN, PKY, KRC, OFC, BMR, PDM, HPP, DFT, SLG, GOV, DEIOffice REIT sector upgraded to Market Weight at Wells Fargo
Wells Fargo upgraded the Office REIT sector to Market Weight from Underweight citing relative valuations and improving office fundamentals. The firm has Outperform ratings on shares of Corporate Office Properties (OFC), Douglas Emmett (DEI), Hudson Pacific (HPP) and Kilroy Realty (KRC). Wells has Underperform ratings on Government Properties (GOV) and Piedmont Office Realty (PDM).
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November 26, 2014
06:20 EDTDFTDuPont Fabros price target raised to $38 on Yahoo extension at Barclays
Barclays said DuPont Fabros' (DFT) tri-party agreement extending expiration related to Yahoo's (YHOO) sublease of its space in ACC4 to 2019 from 2017 removes an overhang. The firm raised its price target to $38 from $31 and maintains its Overweight rating.
November 24, 2014
08:01 EDTGOVGovernment Properties enters $1.3B of unsecured credit, term loan facilities
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November 20, 2014
10:02 EDTDFTOn The Fly: Analyst Upgrade Summary
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07:14 EDTDFTDuPont Fabros upgraded at Macquarie
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06:51 EDTDFTDuPont Fabros upgraded to Outperform from Neutral at Macquarie
05:12 EDTKRCViacom signs 180K-square foot lease at Columbia Square development in Hollywood
Kilroy Realty (KRC) said it has signed a long-term lease with Viacom (VIAB, VIA) for approximately 180,000 square feet of space at KRC’s 685,000-square-foot, mixed-use Columbia Square development located in the heart of Hollywood. The New York-based company plans to relocate and unite the West Coast operations of Viacom media networks including BET, Comedy Central, MTV, Spike TV, VH1 and TV Land currently based in Santa Monica and in other Los Angeles offices into Columbia Square’s 250,000-square-foot Gower Building. The six-story, dual-core glass and steel Gower Building is the larger of two new office buildings totaling 350,000 square feet currently under construction as part of KRC’s $420M mixed-use project located on Sunset Boulevard. Designed by Rios, Clementi, Hale Studios, Columbia Square will also feature 93,000 square feet of renovated, historical creative office and studio space, 30,000 square feet of retail space, 200 luxury residential units and a five-level subterranean parking structure. Viacom is expected to take occupancy in phases starting in late 2016.
November 17, 2014
16:06 EDTPKYParkway Properties announces consolidation of ownership in key Austin JV assets
Parkway Properties announced that Parkway and The California State Teachers' Retirement System have successfully unwound their joint venture in Austin, Texas. As part of the agreement, Parkway acquired CalSTRS' 60% interest in San Jacinto Center and One Congress Plaza, resulting in 100% ownership of these two assets, and transferred its 40% interest in Frost Bank Tower, 300 West 6th Street and One American Center to CalSTRS. Parkway also received net proceeds of approximately $43.6M from CalSTRS in connection with the transaction. Prior to the termination of the joint venture, Parkway's pro rata ownership in Austin was 967,000 square feet. Post-closing, Parkway now wholly owns 926,000 square feet, a decrease of 41,000 square feet. In addition, the net proceeds to Parkway of $43.6M will reduce Parkway's net debt to EBITDA and will be used to partially fund pending acquisitions.

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