Griffin REIT Buys $521M 18-Asset Office Portfolio

Law360, New York (November 7, 2013, 4:14 PM EST) -- The real estate investment trust affiliated with California-based Griffin Capital Corp. has acquired an 18-asset single-tenant office portfolio from Columbia Property Trust for $521.5 million, Griffin announced Wednesday.

Griffin Capital Essential Asset REIT Inc. purchased the portfolio with financing from Key Bank NA and Starwood Property Trust Inc., bringing its total capitalization to more than $1.3 billion.

The portfolio covers about 4 million square feet in 11 states, and the offices are leased to a large number of Fortune 500 companies, including Coca-Cola Refreshments USA, JP...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.