AMERICAN FINANCIAL REALTY TRUST

AMERICAN FINANCIAL REALTY TRUST

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Company Overview
American Financial Realty Trust is an American-based public company which operates as a self-managed and self-administered real estate investment trust (REIT) focused on acquiring, managing and operating properties leased primarily to regulated financial institutions. It was formed in the year 2002 by a mortgage investment mogul, Lewis S. Ranieri, when he merged his private REIT with American Financial Resources Group. Its registered head office is located in Jenkintown, Pennsylvania, United States of America.
The company acquires corporate-owned real estate assets such as branches and office buildings from financial institutions. It leases the acquired properties to banks and other financial institutions using long-term net leases with terms ranging from 10 to 20 years. The company’s largest tenants include Bank of America, Wachovia Bank, Citizens Bank of Pennsylvania, and Wells Fargo Bank. It intends to become the preferred landlord of leading banks and other financial institutions by means of developing mutually beneficial relationships and offering flexible acquisition structures and lease terms.
American Financial Realty Trust is a subsidiary of FMR Corp, an American-based private company engaged in the provision of investment advice.
Business Summary
American Financial Realty Trust is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on acquiring and operating properties leased to regulated financial institutions. These institutions are, for the most part, deposit taking commercial banks, thrifts and credit unions (banks). Its portfolio of wholly owned and jointly owned bank branches and office buildings is leased to banks, such as Bank of America, N.A., Wachovia Bank, N.A., Regions Financial Corporation and Citizens Financial Group, Inc. and to mid-sized and community banks. As of December 31, 2007, its portfolio consisted of 929 bank branches, 377 office buildings and 14 land parcels, of which 239 bank branches and one office building were partially owned through joint ventures. In April 2008, Gramercy Capital Corp. completed the acquisition of American Financial Realty Trust.
Description and history
American Financial Realty Trust is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on acquiring and operating properties leased to regulated financial institutions. These institutions are, for the most part, deposit taking commercial banks, thrifts and credit unions (banks). Its portfolio of wholly owned and jointly owned bank branches and office buildings is leased to banks, such as Bank of America, N.A., Wachovia Bank, N.A., Regions Financial Corporation and Citizens Financial Group, Inc. and to mid-sized and community banks. As of December 31, 2007, its portfolio consisted of 929 bank branches, 377 office buildings and 14 land parcels, of which 239 bank branches and one office building were partially owned through joint ventures. The Company’s wholly owned properties aggregated approximately 29.9 million rentable square feet and its partially owned properties aggregated approximately 1.3 million rentable square feet, including one million rentable square feet in an unconsolidated joint venture. In April 2008, Gramercy Capital Corp. completed the acquisition of American Financial Realty Trust.

The Company’s properties are located in 36 states and Washington, District of Columbia. As of December 31, 2007, the occupancy of its wholly owned properties was 86.5%, and the occupancy of its partially owned properties was 99.9%. American Financial Realty Trust’s two largest tenants are Bank of America, N.A. and Wachovia Bank, N.A., and as of December 31, 2007, they represented approximately 36% and 15%, respectively, of its portfolio’s rental income and occupied approximately 42.8% and 18.7%, respectively, of the Company’s total rentable square feet. As of December 31, 2007, the weighted average term of its leases was 11 years and approximately 76.6% of the Company’s base revenue was derived from triple net and bond net leases.

Formed by a mortgage investment mogul, Lewis S. Ranieri, when he merged his private REIT with American Financial Resources Group

Business Line
Focused on acquiring, managing and operating properties leased primarily to regulated financial institutions
Subsidiary
FIRST STATES INVESTORS 3500, LLC
Advisor
KPMG LLP
IPO date
6/27/2003
US SIC Code
6798
Company Address
Suite 300
610, Old York Road
City province or state postal code
19046, JENKINTOWN, PA
Phone: +1 215 887 2280
Fax: +1 215 887 2585
Country address: UNITED STATES OF AMERICA
Website url: www.afrt.com