Net Lease Office Properties
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
NLOP$9.28+2.9%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets as of March, 202 and December 31,
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Investments in real estate: | ||
| Land, buildings and improvements | $226,533 | $218,799 |
| Net investments in finance leases | — | 41,878 |
| In-place lease intangible assets and other | 41,519 | 45,160 |
| Above-market rent intangible assets | 7,314 | 10,760 |
| Investments in real estate | 275,366 | 316,597 |
| Accumulated depreciation and amortization | (97,425) | (102,926) |
| Assets held for sale, net | — | 96,269 |
| Net investments in real estate | 177,941 | 309,940 |
| Cash and cash equivalents | 70,609 | 119,621 |
| Other assets, net | 9,432 | 23,810 |
| Total assets (a) | $257,982 | $453,371 |
| Liabilities and Equity | ||
| Non-recourse mortgage | $21,900 | $21,900 |
| Accounts payable, accrued expenses and other liabilities | 11,157 | 56,104 |
| Below-market rent intangible liabilities, net | 2,055 | 1,990 |
| Dividends payable | 48,886 | 75,552 |
| Total liabilities (a) | 83,998 | 155,546 |
| Commitments and contingencies (Note 9) | ||
| 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 | (685,801) | (561,917) |
| Total shareholders’ equity | 170,027 | 293,911 |
| Noncontrolling interests | 3,957 | 3,914 |
| Total equity | 173,984 | 297,825 |
| Total liabilities and equity | $257,982 | $453,371 |
(a)See Note 2 for details related to variable interest entities (“VIEs”).
Net Lease Office Properties 3/31/2026 10-Q –3
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