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Columbia Property Trust Releases Fourth Quarter and Full Year 2018 Results and Provides 2019 Guidance

February 13, 2019 4:06 PM

NEW YORK--(BUSINESS WIRE)-- Columbia Property Trust, Inc. (NYSE: CXP) has released its quarterly update and financial results for the quarterly and annual periods ending December 31, 2018, by posting its 2018 Form 10-K and Fourth Quarter 2018 Supplemental Information package to the Investor Relations section of its website.

Full results and additional information on the recent highlights summarized below can be found in the Supplemental Information package:

  • Exceeded high end of full-year 2018 guidance ranges for net income per share, Normalized FFO per share, same-store cash NOI growth, and year-end leased percentage, each of which had been raised during the year;
  • Portfolio 97.4 percent leased, up 120 basis points during the past year following a strong leasing performance; New York, San Francisco and Washington, D.C. portfolios at 99.1, 96.4 and 92.2 percent, respectively;
  • In New York, signed a five-year lease extension with Twitter in November for the full 215,000-square-foot office portion of 249 West 17th Street, followed in January by a full-floor lease at 315 Park Avenue South that brought it to 99 percent leased;
  • Amended and restated our revolving credit facility and term loan agreement, resulting in expanded capacity, extended maturities and lowered borrowing costs.

Direct link to the Supplemental Information Package: https://ir.columbia.reit/file/4088372/Index?KeyFile=1001248522

To access the Form 10-K, please visit: https://ir.columbia.reit/Docs

As previously announced, the Company will host a live conference call and audio webcast later today at 5:00 p.m. ET. The number to call to participate in the interactive teleconference is (412) 542-4180. To access the live webcast, interested parties may go to the Investor Relations section of Columbia’s website at least fifteen minutes prior to the start time of the call in order to register and to download and install any necessary audio software.

Direct link to the Conference Call Webcast: https://services.choruscall.com/links/cxp190214.html

A replay of the conference call will be available online in the Investor Relations section of the Company’s website at https://ir.columbia.reit shortly after the call and archived for approximately twelve months. The audio will also be available by telephone through Feb. 27, 2019, by dialing (877) 344-7529 (passcode: 10127070).

About Columbia Property Trust
Columbia Property Trust (NYSE: CXP) creates value through owning, operating and developing Class-A office buildings in high-barrier U.S. office markets, primarily New York, San Francisco, and Washington D.C. Columbia is deeply experienced in transactions, asset management and repositioning, leasing, and property management. It employs these competencies to grow value across its high-quality, well-leased portfolio of 19 properties that contain nine million rentable square feet, as well as one property under development. Columbia has investment-grade ratings from both Moody’s and Standard & Poor’s. For more information, please visit www.columbia.reit.

Forward-Looking Statements:
Certain statements in this press release, including statements regarding future business operations, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to uncertainty and risks. Our actual results may differ materially from projections. See Item 1A in the Company’s most recently filed Annual Report on Form 10-K for the year ended December 31, 2018, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. Such forward-looking statements are based on current expectations and speak as of the date of such statements. We make no representations or warranties (express or implied) about the accuracy of, nor do we intend to publicly update or revise, any such forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.

Matt Stover
T 404 465 2227
E IR@columbia.reit

Source: Columbia Property Trust, Inc.

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