Net Lease Office Properties

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 53 high-quality office properties, totaling approximately 8.0 million leasable square feet primarily leased to corporate tenants on a single-tenant net lease basis. The vast majority of the office properties owned by NLOP are located in the U.S., with the balance in Europe. The portfolio consists of 55 corporate tenants operating in a variety of industries, generating annualized based rent (ABR) of approximately $128 million. NLOP’s business plan is to focus on realizing value for its shareholders primarily through strategic asset management and disposition of its property portfolio over time.

Given WPC’s extensive knowledge of the portfolio, NLOP is externally managed and advised by wholly owned affiliates of WPC to successfully execute on its business strategy. Over the course of its 50-year history, WPC has developed significant expertise in the single-tenant office real estate sector, including the operation, leasing, acquisition and development of assets through many market cycles, and has a proven track record of execution.

Portfolio data as of March 31, 2024.

Competitive Strengths

Experienced Advisors The Advisors bring extensive experience, a proven track record in office and net lease properties as well as in-depth market knowledge and long-standing relationships built over WPC’s 50-year history to help NLOP execute on its business strategy and realize maximized value
High-quality Portfolio High-quality, net lease portfolio diversified by tenant, geography and industry and with favorable exposure to investment grade credit 
Consistent Performance Consistent performance through market cycles, including the COVID-19 pandemic during which rent collections remained at or above 99.9%
Inflation Protection Inflation protection through contractual rent increases and limited property-level operating costs 
Staggered Lease Terms The portfolio’s WALT is approximately 5.7 years

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