City Office REIT Announces Second Quarter 2024 Earnings Release and Conference Call
City Office REIT, Inc. (NYSE: CIO) will release its second-quarter 2024 financial results on Thursday, August 1, 2024, before market open. The company's management will host a conference call at 11:00 AM ET on the same day to discuss these results. A supplemental financial package and a replay of the call will be available on their website.
(CIO) Price Dynamics and Execution-Aware Positioning
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City Office REIT Appoints New Chairwoman
City Office REIT has announced the appointment of a new chairwoman. This change in leadership signifies a development in the company's governance structure. The article likely details the new chairwoman's background and the company's expectations for her role.
A $7-per-share deal reflects belief in an office-sector rebound
MCME Carell, a joint venture between Elliott Investment Management L.P. and Morning Calm Management, LLC, has completed its acquisition of City Office REIT (CIO) for $7.00 per share. With this transaction, CIO's common stock will no longer be publicly listed. This acquisition signifies MCME Carell's confidence in the recovery of the office sector and its strategy to invest in high-quality commercial real estate assets experiencing dislocation.
City Office REIT (NYSE: CIO) taken private with $7.00 cash payout
City Office REIT (NYSE: CIO) has been taken private following its merger with MCME Carell Merger Sub, LLC, an affiliate of MCME Carell Holdings, LP. Common shareholders will receive $7.00 per share in cash, while Series A Preferred stockholders will receive $25.00 per share plus accrued distributions. The company's securities are being delisted from the NYSE, and it will suspend SEC reporting, marking its full transition to private ownership.
City Office REIT Acquired and Taken Private by MCME
City Office REIT (CIO) has been acquired and taken private by MCME Carrell, a joint venture between Elliott Investment Management and Morning Calm Management, for $7.00 per share. This acquisition led to the delisting of CIO stock from the NYSE and the suspension of SEC reporting obligations. The deal included repayment of credit facilities, redemption of preferred shares, cashing out equity awards, and a change in leadership, with MCME Carrell aiming to capitalize on opportunities in the U.S. commercial office market.
City Office REIT Terminates Credit Agreement With KeyBank
City Office REIT has terminated its Credit Agreement with KeyBank and other lenders, originally dated March 15, 2018. This termination occurred on January 9, 2026, subsequent to the company paying off all outstanding obligations at the merger closing. The move simplifies the capital structure and involved no disclosed exit fees.
City Office REIT Announced Transfer or Voluntary Withdrawal of Listing
City Office REIT (CIO) announced its voluntary withdrawal of listing from the NYSE following its merger, requesting a suspension of trading and the filing of a Form 25. The company intends to file a Form 15 to suspend its SEC reporting obligations once the delisting and deregistration become effective. This move means its securities will no longer be traded on the NYSE.
City Office REIT Announces Preferred Stock Redemption
City Office REIT announced on December 4, 2025, the redemption of its Series A Preferred Stock. This redemption, anticipated for January 9, 2026, is part of a planned merger with MCME Carell Merger Sub, with shares to be redeemed at $25 plus accrued distributions. The information is based on an SEC filing.
City Office REIT (CIO) plans full redemption of 6.625% Series A preferred ahead of merger
City Office REIT (CIO) will redeem all outstanding shares of its 6.625% Series A Cumulative Redeemable Preferred Stock ahead of its merger with MCME Carell Holdings. Each preferred share will be redeemed for $25.00 cash plus accrued distributions, with the redemption anticipated on January 9, 2026. This action aligns the company's capital structure with the planned take-private transaction.
LSV Asset Management Purchases 96,329 Shares of City Office REIT, Inc. $CIO
LSV Asset Management recently increased its stake in City Office REIT, Inc. (NYSE:CIO) by 6.5% during the second quarter, acquiring an additional 96,329 shares. This brings their total holdings to 1,582,009 shares, valued at approximately $8.45 million, representing 3.92% of the company. Other institutional investors also adjusted their positions in CIO, with analysts currently holding a consensus "Reduce" rating for the stock.
Office Space: MCME Carell to Acquire City Office REIT for $1.1B
MCME Carell is set to acquire City Office REIT (NYSE: CIO) for $1.1 billion in an all-cash deal, which includes the sale of City Office’s Phoenix portfolio and is expected to close in Q4. This acquisition comes amidst a challenging commercial real estate market, with the CEO stating it delivers immediate and significant value to shareholders. Despite a market decline post-pandemic, analysts project future growth for the global commercial real estate industry, with North America currently dominating the market.
City Office REIT: It's Been A Fun Ride (CIO) (CIO.PR.A)
City Office REIT's common shares are being acquired for $7 per share, and its Series A preferred shares will be redeemed at $25. Both share classes are now trading close to these acquisition values, largely reflecting the deal's premium. Given the minimal remaining upside and completion risk, the author is withdrawing their bullish stance to a neutral view for both common and Series A preferred shares.
News | Vancouver-based office REIT to be sold to US investors amid 'challenging environment'
Vancouver-based City Office REIT Inc. is set to go private in a US$1.1 billion deal with affiliates of Elliott Investment Management and Morning Calm Management. The acquisition is contingent upon City Office selling its Phoenix office portfolio for USD$296 million. This transaction provides immediate value to shareholders amid a challenging office sector environment, according to CEO James Farrar.
Canada's City Office REIT to be taken private in near $1.1 billion deal
City Office REIT (CIO.N) has agreed to be taken private by MCME Carell, an affiliate of hedge fund Elliott Investment, in an all-cash deal valued at nearly $1.1 billion, including the assumption of debt. MCME Carell will acquire all outstanding shares it does not already own for $7.00 per share, a 26% premium to the stock's last close. The deal is expected to close in the fourth quarter and provides immediate value to shareholders amidst a challenging office sector environment.
Unexpected Surge in City Office REIT Stocks: What’s Going on?
City Office REIT Inc.'s stock surged by 24.1% following its Q2 2025 earnings report, which revealed strong revenue at $171M but a negative net income of $1.67 million. Investors are cautiously optimistic, watching for the sustainability of these gains amidst the company's leveraged setup and questions regarding profit margins. The article emphasizes the importance of objective market signals and macroeconomic factors for informed trading decisions.
City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at Approximately $1.1 Billion
City Office REIT has entered into a definitive merger agreement to be acquired by MCME Carell Holdings, LP and MCME Carell Holdings, LLC for $7.00 per share of common stock, valuing the transaction at approximately $1.1 billion. This represents a 26% premium to City Office's closing share price on the last trading day prior to the announcement. The transaction is expected to close in the fourth quarter of 2025, pending shareholder approval, and will result in City Office becoming a private company.
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City Office REIT has entered into a definitive merger agreement with MCME Carell Holdings for a cash acquisition of $7.00 per share of common stock, valuing the transaction at approximately $1.1 billion. This represents a significant premium to recent trading prices. The deal is expected to close in Q4 2025, after which City Office will become a private company and its shares will cease trading on the NYSE.
City Office REIT Enters Into $1.1B Merger Agreement, Will Go Private
City Office REIT has agreed to a $1.1 billion merger with MCME Carell Holdings LP and LLC, a joint venture between Elliott Investment Management LP and Morning Calm Management LLC. This agreement will result in City Office REIT becoming a private company, with shareholders receiving $7 per share in cash. The transaction, unanimously approved by City Office's board, is expected to close in the fourth quarter of 2025 and delivers immediate value to shareholders amidst a challenging office sector environment.
City Office REIT Inc (CIO) Q1 2025 Earnings Call Highlights: Strategic Developments and ...
City Office REIT Inc (CIO) reported its Q1 2025 earnings, highlighting a new residential redevelopment partnership in St. Petersburg, strong leasing activity, and positive same-store cash NOI growth. Despite these strategic advancements, the company faces temporary dips in portfolio occupancy and significant debt maturities in 2025, with a relatively high net debt to EBITDA ratio.
PMG, Feldman Equities, City Office REIT, and Hilton Announce Waldorf Astoria Residences St. Petersburg
PMG, Feldman Equities, City Office REIT, and Hilton have announced the Waldorf Astoria Residences St. Petersburg, a 50-story luxury tower set to become the tallest building in St. Petersburg. The development will feature 163 branded residences, extensive amenities, and Class-A office and retail space. This project marks Hilton's third partnership with PMG and its second standalone branded residences in Florida, highlighting the city's growth as a premier residential destination.
6 Stellar REITs At Big Discounts To NAV
The article discusses how many high-quality equity REITs are currently trading at substantial discounts to their NAVs, despite having good management teams. It highlights several REITs like SUI, ARE, MAA, REXR, O, and WPC as having significant discounts and potential value, while cautioning against focusing solely on NAV for all REITs, especially those with declining fundamentals or small analyst coverage. The author emphasizes the importance of understanding long-term price-to-NAV histories and underlying trends when investing in REITs.
The Impact of Work From Home on Commercial Property Values and the Property Tax in U.S. Cities
This report analyzes the significant impact of increased work-from-home (WFH) on commercial property values and city finances in eight major U.S. cities. It projects substantial declines in commercial real estate prices and property tax revenues due to reduced demand for office space, highlighting the fiscal vulnerability of cities, especially those heavily reliant on property taxes. The study also examines the financial market's response and proposes policy implications for state aid allocation given these shifts.
High-profile Uptown Dallas office building now owned by Canadian firm
A Canadian investor, City Office REIT Inc., has purchased the 2525 McKinnon office building in Dallas' Uptown district for approximately $47 million. The eight-story granite building, built in 2003, is almost fully leased and attracted significant buyer attention due to its prime location. This sale follows a string of other high-value office transactions in the Uptown area, further raising prices in the Dallas office market.
City Office REIT Q1 adjusted FFO $0.22/shr
City Office REIT reported its first-quarter 2016 financial results. The company's adjusted funds from operations (AFFO) for the quarter was $3.6 million, or $0.22 per fully diluted share, and core FFO per share reached $0.32.
Northern Collegiate grad heads company newly listed on NYSE
Jamie Farrar, a Northern Collegiate graduate and CEO of City Office REIT, is preparing to ring the opening bell at the New York Stock Exchange on July 22. His company, newly listed on the NYSE, focuses on acquiring office properties in the southern and western U.S. Farrar, originally from Sarnia, co-founded the firm which has accumulated approximately $700 million in property value since 2011.
Lewisville office complex is under contract to Canada buyer
Canadian investor City Office REIT Inc. is set to purchase Lake Vista Pointe, a 163,000 square foot office property in Lewisville, for $28.4 million. The building is fully leased to Ally Financial Inc. and represents City Office REIT's first acquisition in Texas, highlighting the Dallas-Fort Worth market's favorable economic trends for office properties.
