Risk Factors Update Summary
- Concentration of properties in California exposes the company to natural disaster risks, impacting financial condition.
- Inflationary pricing may negatively impact construction costs, including materials, labor, and services, affecting redevelopment projects.
- Any future highly infectious disease outbreak could disrupt the global economy, causing volatility.
- Continued economic uncertainty may lead to sustained economic slowdowns, affecting net operating income and property values.
- Total indebtedness increased to approximately $1.3 billion, with outstanding amounts under revolving credit facilities and other debt.
- Possible reduction in U.S. government tenants could increase operating expenses, such as inflation and property taxes.
- Interest rate swaps increased to three with an aggregate notional value of $300 million to mitigate exposure.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1622194&owner=exclude
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