Risk Factors Update Summary
- Expansion of remote work policies may impact 44% of rentable square feet by 2023.
- Annualized escalated rent decreased from $305 million to $265 million and $438 million to $384 million.
- Outstanding consolidated indebtedness increased from $3.6 billion to $3.5 billion as of December 31, 2023.
- Portfolio annualized cash rent decreased from 40% to 38% accounted for by specific properties.
- Consolidated mortgage debt scheduled to mature increased from $260 million to $382 million in 2024.
- Daily changes in SOFR have been more volatile than comparable rates, impacting interest costs.
- Net book value of debt and preferred equity investments decreased from $623 million to $346 million.
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=1040971&owner=exclude
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