Net Lease Office Properties $(NLOP)$, a publicly-traded real estate investment trust, has released its second quarter 2025 results. The company, which focuses on the strategic asset management and disposition of net lease office properties, reported a current portfolio of 37 properties with an annualized base rent $(ABR)$ of $88 million. This is a reduction from its initial 59 properties at the time of its spin-out from W. P. Carey in 2023, which had an ABR of approximately $145 million. Since its inception, NLOP has successfully disposed of 22 properties, generating $42 million in ABR. The proceeds from these dispositions have been primarily used to pay down $455 million of debt, which has now been fully repaid. NLOP's strategic plan includes distributing proceeds from sales to its shareholders, although such distributions are subject to the discretion of the Board of Trustees. The company continues to execute its strategic plan with a focus on asset sales and debt repayment.
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