American Finance Trust Announces 95% Rent Collected In Fourth Quarter; Over $60 Million Of Fourth Quarter Acquisitions
"As anticipated, we collected substantially all of the original cash rent due across the portfolio and marked another quarter of strong results" said
Acquisitions
During the fourth quarter, the Company acquired 35 properties for an aggregate contract purchase price of
About
Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions indicate a forward-looking statement, although not all forward-looking statements include these words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of AFIN's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on AFIN, AFIN's tenants and the global economy and financial markets and that the information about rent collections includes additional rent collected with respect to fourth quarter 2020 as compared to previously reported information due to ongoing collection efforts and fourth quarter rent collections may not be indicative of any future period, as well as those set forth in the Risk Factors section of AFIN's most recent Annual Report on Form 10-K for the year ended
- Represents the contract purchase price and excludes acquisition costs that are capitalized per GAAP.
- Weighted average capitalization rate is calculated by dividing the annualized straight-line rental income the property is expected to generate and the purchase price of the property. Weighted average capitalization rate is a rate of return on a real estate investment property based on the expected, annualized straight-line rental income that the property will generate under its existing lease. The weighted average capitalization rate is based upon square feet.
- The weighted average remaining lease term is based on rentable square feet as of the acquisition date.
- Cash capitalization rate is calculated by dividing the annualized cash rental income the property is expected to generate and the purchase price of the property. For acquisitions, cash capitalization rate is a rate of return on a real estate investment property based on the expected, annualized cash rental income during the first year of ownership that the property will generate under its existing lease. Weighted average cash capitalization rate is based upon square feet.
Contacts:
Investor Relations
investorrelations@americanfinancetrust.com
(866) 902-0063
View original content to download multimedia:http://www.prnewswire.com/news-releases/american-finance-trust-announces-95-rent-collected-in-fourth-quarter-over-60-million-of-fourth-quarter-acquisitions-301202400.html
SOURCE