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Stock Market & Financial Investment News

News For SIR From The Last 14 Days
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September 3, 2014
09:31 EDTSIRSelect Income REIT downgraded to Underperform from Neutral at BofA/Merrill
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September 2, 2014
09:35 EDTSIRSelect Income REIT paid full price for little upside with Cole, says Wells Fargo
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06:35 EDTSIRARCP announces CCIT, Select Income REIT merger to generate AFFO of 2c in Q4
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06:08 EDTSIRSenior Housing agrees to purchase 23 medical office buildings for $539M
Senior Housing announced that it has agreed to acquire 23 Class A medical office buildings, or MOBs, for a purchase price of approximately $539M. The 23 properties contain approximately 2.2M square feet and are located in 12 states. The properties are currently 100% occupied for a weighted average term of 9.5 years, with no scheduled lease expiration before December 31, 2018. Seventy-two percent of the rents are payable by tenants with investment grade credit ratings and certain other tenants that are believed to have strong credit qualities but are unrated. SNH currently expects to assume approximately $30M of mortgage debt on two of the MOBs to be acquired and to fund the balance of the purchase price using cash on hand and drawings under its unsecured revolving bank credit facility. On a longer term basis, SNH expects to finance this acquisition with an appropriate mix of debt and equity capital, depending on the cost of such financings and future market conditions. The acquisition GAAP capitalization rate is expected to be approximately 6.4%. The 23 properties will be purchased in connection with the purchase by Select Income REIT (SIR) of Cole Corporate Income Trust.
06:07 EDTSIRSelect Income REIT to acquire Cole Corporate Income Trust for $3B
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