Net Lease Office Properties
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
NLOP$9.57+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Investments in real estate: | ||
| Land, buildings and improvements | $218,799 | $730,345 |
| Net investments in finance leases | 41,878 | — |
| In-place lease intangible assets and other | 45,160 | 209,968 |
| Above-market rent intangible assets | 10,760 | 30,512 |
| Investments in real estate | 316,597 | 970,825 |
| Accumulated depreciation and amortization | (102,926) | (292,679) |
| Assets held for sale, net | 96,269 | 29,297 |
| Net investments in real estate | 309,940 | 707,443 |
| Cash and cash equivalents | 119,621 | 25,121 |
| Restricted cash | 3,011 | 43,305 |
| Other assets, net | 20,799 | 29,200 |
| Total assets (a) | $453,371 | $805,069 |
| Liabilities and Equity | ||
| Debt: | ||
| Non-recourse mortgages, net | $21,900 | $111,259 |
| NLOP Mezzanine Loan, net | — | 57,957 |
| Debt, net | 21,900 | 169,216 |
| Accounts payable, accrued expenses and other liabilities | 56,104 | 44,145 |
| Below-market rent intangible liabilities, net | 1,990 | 6,305 |
| Dividends payable | 75,552 | — |
| Total liabilities (a) | 155,546 | 219,666 |
| Commitments and contingencies (Note 11) | ||
| Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued | — | — |
| Common stock, $0.001 par value, 45,000,000 shares authorized; 14,814,075 shares issued and outstanding | 15 | 15 |
| Additional paid-in capital | 855,813 | 855,813 |
| Distributions in excess of accumulated earnings | (561,917) | (234,443) |
| Accumulated other comprehensive loss | — | (40,157) |
| Total shareholders’ equity | 293,911 | 581,228 |
| Noncontrolling interests | 3,914 | 4,175 |
| Total equity | 297,825 | 585,403 |
| Total liabilities and equity | $453,371 | $805,069 |
(a)See Note 3 for details related to variable interest entities (“VIEs”).
Net Lease Office Properties 2025 10-K – 39
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.