Welcome to our dedicated page for City Office Reit news (Ticker: CIO), a resource for investors and traders seeking the latest updates and insights on City Office Reit stock.
City Office REIT, Inc. (CIO) generated a range of news items related to its operations as an office-focused real estate investment trust and its eventual acquisition by an affiliate of Elliott Investment Management L.P. and Morning Calm Management, LLC. As an internally managed REIT concentrated on acquiring, owning and operating office properties located predominantly in Sun Belt markets, the company’s news flow frequently covered portfolio performance, leasing, capital markets activity and strategic transactions.
News releases documented quarterly financial results, where City Office REIT reported rental and other revenues, net income or loss, funds from operations (FFO), core FFO, adjusted funds from operations (AFFO), occupancy levels and leasing activity. The company also highlighted metrics such as same store cash net operating income and detailed the volume of new and renewal leases signed across its portfolio, providing insight into tenant demand and property-level trends.
Another key category of news involved real estate transactions and balance sheet actions. City Office REIT announced a purchase and sale agreement to dispose of its Phoenix portfolio and later reported the first closing of this sale, noting that the transaction satisfied a closing condition in its merger agreement. Additional releases described amendments to its credit facilities, preferred stock dividend declarations and the suspension of common stock dividends in connection with a pending merger.
Merger and governance developments formed a major theme in later news. The company issued press releases about entering into a definitive merger agreement with MCME Carell Holdings, LP and MCME Carell Holdings, LLC, the approval of the merger by stockholders at a special meeting, and the ultimate completion of the acquisition. Other news items included communications from shareholders such as Oksenholt Capital Management LLC commenting on the proposed transaction and the company’s leadership. Together, these articles provide a historical record of CIO’s strategic decisions, capital allocation and transition from a publicly traded REIT to a privately held entity.
MCME Carell (a joint venture of Elliott Investment Management and Morning Calm Management) completed its acquisition of City Office REIT (NYSE: CIO) on January 9, 2026 for $7.00 per share. As a result, CIO common stock will no longer be listed on any public market. The transaction received support from over 98% of voting stockholders. Morning Calm Management highlighted plans to invest in the portfolio and pursue opportunities in the U.S. commercial real estate sector, targeting value from sector dislocation. Financial and legal advisors for both sides were disclosed.
City Office REIT (NYSE:CIO) disclosed the tax characterization of its 2025 distributions for common stock and 6.625% Series A cumulative preferred stock to assist shareholders with tax reporting. For common shares, three 2025 payments (01/23, 04/24, 07/24) totaled $0.100 each, all reported as return of capital on the schedule provided. For preferred shares (CUSIP 178587200), four 2025 payments (01/23, 04/24, 07/24, 10/24) were $0.414063 each, all reported as return of capital. Shareholders are advised to review Forms 1099-DIV and consult tax advisors; the common stock CUSIP is 178587101.
City Office REIT (NYSE: CIO) announced that its stockholders approved a merger in which MCME Carell Holdings, LP and MCME Carell Merger Sub, LLC will acquire all issued and outstanding shares.
Upon closing, holders of City Office common stock will receive $7.00 per share in cash. The merger remains subject to satisfaction of closing conditions and is expected to close during the fourth quarter of 2025. Final voting results will be filed in a Form 8-K with the SEC.
City Office REIT (NYSE: CIO) faces a shareholder challenge from Oksenholt Capital, which objects to a proposed take‑private merger with affiliates of Elliott Capital and calls for new independent directors and US‑based senior management.
Oksenholt highlights a share price decline from $21.24 (2022 high) to $5.57 (July 23, 2025), estimates a market cap loss of ~$626.8M, cites CEO James Farrar’s $2,326,635 2024 compensation, and proposes a restructuring plan targeting $2–7M annual cost savings and an initial $0.90 EPS gain from cuts.
City Office REIT (NYSE:CIO) has declared a quarterly dividend of $0.4140625 per share on its 6.625% Series A Cumulative Redeemable Preferred Stock. The dividend will be paid on October 24, 2025, to stockholders of record as of October 10, 2025.
The company has also reiterated that it has suspended future quarterly common stock dividends pending the completion of its proposed merger with MCME Carell Holdings, LP and MCME Carell Merger Sub, LLC.
City Office REIT (NYSE:CIO) has completed the first phase of its Phoenix portfolio sale, generating $266 million in gross proceeds from the sale of six properties. The transaction represents a significant step in the company's strategic divestment plan.
The remaining Phoenix property, Pima Center, valued at $30 million, is still under contract and awaiting ground lease approvals. This sale fulfills a key condition in the merger agreement dated July 23, 2025, between City Office and MCME Carell Holdings, LP and MCME Carell Merger Sub, LLC.
City Office REIT (NYSE:CIO) announced its Q2 2025 results alongside a major merger agreement with MCME Carell. The company reported Q2 rental revenues of $42.3 million and a GAAP net loss of $107.2 million ($2.66 per share). Core FFO was $11.8 million ($0.28 per share).
The highlight was a definitive merger agreement where MCME Carell will acquire CIO for $7.00 per share in cash, representing a 26% premium to the last trading price. The transaction is valued at approximately $1.1 billion. Additionally, CIO entered an agreement to sell its Phoenix portfolio for $296.0 million.
The company's portfolio maintained 82.5% occupancy (86.8% including signed leases) and executed 355,000 square feet of new and renewal leases. The Board suspended future quarterly common stock dividends pending the merger closure.
City Office REIT (NYSE: CIO) has entered into a definitive merger agreement with MCME Carell Holdings to be acquired for $7.00 per share in an all-cash transaction valued at approximately $1.1 billion, including debt assumption and preferred stock redemption.
The transaction price represents a 26% premium to CIO's last closing price and a 39% premium to its 90-day volume-weighted average price. Holders of the company's 6.625% Series A Preferred Stock will receive $25.00 per share plus accrued distributions.
The deal, unanimously approved by CIO's Board of Directors, is expected to close in Q4 2025. Upon completion, CIO will become private and delist from NYSE. The company has suspended future quarterly common stock dividends until closing.
City Office REIT (NYSE:CIO) has scheduled its second quarter 2025 financial results release and conference call. The company will release Q2 2025 results on Thursday, July 31, 2025, before market open.
Management will host a conference call at 11:00 am Eastern Time on the same day to discuss the results. A supplemental financial package will be available on the company's website. The conference call will be accessible via webcast and telephone, with replay available through October 29, 2025.
FAQ
What is the current stock price of City Office Reit (CIO)?
What is the market cap of City Office Reit (CIO)?
