Risk Factors Update Summary
- The Company incurred impairment charges of $149 million in 2023, up from $54 million in 2022.
- The Company had approximately $111 million in real estate property investments, down from $100 million.
- The Company decreased the number of properties held under ground leases from 242 to 232.
- The Company reduced its investment concentrations in Dallas, TX (from 9% to 8%), Houston, TX (from 5.6% to 5.0%), and Seattle, WA (from 5.0% to 3.0%).
- The weighted average remaining term of the Company's ground leases increased from approximately 64.4 years to 64.9 years.
- The Company reduced its investments in unconsolidated joint ventures from $327 million to $311 million.
- The Company's outstanding indebtedness decreased from approximately $5.7 billion to $5.3 billion.
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=1360604&owner=exclude
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