Risk Factors Update Summary
- Inflation decreased but remained elevated in 2023. Inflation may increase again in the future.
- Active redevelopment projects reduced from 25 to 23, with costs decreasing from $56 million to $55 million.
- Physical occupancy decreased from 14% to 8% as of December 31, 2023.
- Anticipated additional cost to complete redevelopment projects decreased from $159 million to $112 million.
- Annualized base rent decreased from 73% to 67% in the New York metropolitan area.
- Outstanding indebtedness decreased from $281 million to $159.2 million.
- Variable rate debt would increase by approximately $2 million annually for every 100-basis-point increase.
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=1611547&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.