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What happened Wells REIT?
(Wells REIT II) today announced that it has changed its name to Columbia Property Trust, Inc. and internalized its management. The newly renamed company now is headquartered at One Glenlake Parkway in Atlanta, Ga., and has approximately 100 employees nationwide.
What happened to Columbia Property Trust?
NEW YORK–(BUSINESS WIRE)– Columbia Property Trust, Inc. (NYSE: CXP) today announced that it expects to complete its previously announced merger (the “Merger”) with affiliates of funds managed by Pacific Investment Management Company LLC (“PIMCO”) on or around December 8, 2021.
When did Columbia Property Trust go public?
Columbia’s common stock was listed and traded on the New York Stock Exchange (NYSE) under the ticker symbol “CXP” from October 10, 2013, to December 7, 2021.
Did Wells REIT become Columbia Property Trust?
In 2013, Wells REIT II became self-advised, changed its name to Columbia Property Trust, and listed on the NYSE under the ticker symbol CXP.
Who bought Columbia Property Trust?
Pacific Investment Management Company LLC
Real estate investment trust Columbia Property Trust Inc. said it’s being acquired by Pacific Investment Management Company LLC (PIMCO) of Newport Beach, California, in a deal valued at $3.9 billion.
Who owns Columbia Property Trust?
PIMCOColumbia Property Trust / Parent organization
Who did Columbia Property Trust merge with?
Pimco
Columbia Property Trust Inc. finalized its merger with Pacific Investment Management Co. LLC, or Pimco, Dec.
Does PIMCO invest in real estate?
With Allianz Real Estate, PIMCO is among the largest and most diversified real estate managers in the world, investing across core, core-plus, value-add and opportunistic assets to bring a broad set of solutions to investors globally.
What does Allianz real estate do?
Based in Munich and Paris, Allianz Real Estate GmbH is the strategic umbrella of the ARE Group. It works together with Allianz’s investors to devise tailored property investments. Allianz Real Estate controls the subsidiaries and is responsible for carrying out indirect investments and real estate financing.
Is Allianz a safe investment?
Allianz is the highest-rated private insurance company in the world.
Does Pimco own Allianz?
The firm was founded in 1971, launching with $12 million of assets. In 2000, PIMCO was acquired by Allianz SE, a large global financial services company based in Munich, Germany, but the firm continues to operate as an autonomous subsidiary of Allianz.
Why Wells real estate funds?
Leo F. Wells III founded Wells Real Estate Funds, Inc. (Wells) in 1984, pioneering a disciplined core office real estate investment philosophy of low debt, high-quality tenants, and long-term leases. In three decades, the company has sponsored 30-plus real estate programs and invested more than $12 billion in real estate for over 300,000 investors.
Who is the founder of Wells real estate?
Wells Real Estate. Leo F. Wells III, President and Founder. Leo F. Wells III founded Wells Real Estate Funds, Inc. (Wells) in 1984, pioneering a disciplined core office real estate investment philosophy of low debt, high-quality tenants, and long-term leases.
Is Wells Fargo’s office real estate a Class-A REIT?
During this time, Wells also assembled two of the largest and highest-rated portfolios of Class-A office real estate in nontraded REIT history and earned recognition as ENERGY STAR® Partner of the Year from the U.S. Environmental Protection Agency for the company’s energy conservation efforts.
Is Wells REIT II a self-managed REIT?
In 2013, Wells REIT II became self-advised, changed its name to Columbia Property Trust, and listed on the NYSE under the ticker symbol CXP. Prior to self-management, the REIT had assets totaling over $5 billion and had achieved investment-grade ratings from S&P and Moody’s.