|($ in thousands, except per share data)||Quarter Ended||Nine Months Ended|
|(All per share amounts in this press release are presented on a diluted basis)||September 30,||September 30,|
|Net income (loss) to common shareholders||$||(2,508||)||$||431||$||22,355||$||(2,947||)|
|Net income (loss) per common share||$||(0.01||)||$||—||$||0.05||$||(0.02||)|
|FFO available to common shareholders||$||60,775||$||25,184||$||205,391||$||64,658|
|FFO per common share||$||0.14||$||0.13||$||0.48||$||0.37|
|Core FFO available to common shareholders||$||76,596||$||31,707||$||242,097||$||78,363|
|Core FFO per common share||$||0.18||$||0.17||$||0.57||$||0.45|
|AFFO available to common shareholders||$||69,075||$||26,750||$||219,691||$||66,662|
|AFFO per common share||$||0.16||$||0.14||$||0.51||$||0.38|
- Acquired sixteen properties in eleven separate transactions for an aggregate purchase price of approximately $264.8 million (6.8% initial cash cap rate; 7.3% annualized straight-line cap rate) with a weighted average remaining lease term of approximately 12.5 years at closing.
- Disposed of three single and multi-tenant office buildings and one single-tenant industrial facility for aggregate gross proceeds of $206.7 million. The weighted average remaining lease term for the four sold properties was 10.1 years at closing and the blended exit cap rate was 7.4%.
- Formed the Strategic Office Partners joint venture with TPG Real Estate by contributing six assets valued at $187.5 million, with a weighted average remaining lease term of 3.6 years at closing. The Company received a 25% interest in the joint venture.
- Received a BBB issuer default rating with a stable outlook from Fitch Ratings.
- Priced $350.0 million in senior unsecured notes, resulting in a weighted average maturity of 8.0 years and a weighted average fixed interest rate of 4.12%. The note sale is subject to finalization of documentation and is expected to close on December 15, 2016.
- Narrowed full-year 2016 guidance for Core FFO to between $0.72 and $0.74, and for AFFO to between $0.66 and $0.68.
- Declared a fourth quarter 2016 common share dividend of $0.125 per share, a 13.6% increase over the prior quarter.