Net Lease Office Properties Declares Special Cash Distribution of $5.10 Per Share

Rhea-AI Summary

Net Lease Office Properties (NYSE: NLOP) declared a special cash distribution of $5.10 per common share, totaling approximately $75.6 million, payable January 20, 2026 to shareholders of record as of January 2, 2026.

The company reported the recent sale of six office properties for gross proceeds of approximately $75.8 million. Aggregate metrics for the six assets: $11.188M annual base rent (ABR) at sale and 1,026,712 square feet.

Positive

• Special cash distribution of $5.10 per share (~$75.6M)
• Sale of six properties generated ~$75.8M gross proceeds
• Aggregate ABR at sale: $11.188M
• Total sold square feet: 1,026,712

Negative

• $33.0M single-asset sale (Fort Worth) equals ~43.6% of proceeds
• One property sold was vacant with $0 ABR at sale ($2.576M proceeds)

Key Figures

Special distribution per share $5.10 per share Declared special cash distribution to common shareholders

Total special distribution $75.6 million Aggregate cash outlay for special distribution

Gross sale proceeds $75.755 million Total proceeds from six recently sold office properties

Total ABR at sale $11.188 million Annual base rent for sold properties at time of sale

Total square feet sold 1,026,712 sq ft Aggregate size of six divested office properties

Securitas property proceeds $5.654 million Gross sale proceeds from Plymouth, MN property

JPMorgan Fort Worth proceeds $33.000 million Gross sale proceeds from Fort Worth, TX property

Cohesity property proceeds $14.625 million Gross sale proceeds from Roseville, MN property

Market Reality Check

$25.86 Last Close

Volume Volume 220,543 vs 20-day average 279,128 (relative volume 0.79) ahead of the special distribution news. normal

Technical Shares last closed at 26.36, trading below the 200-day MA of 30.3 and about 23.66% under the 52-week high of 34.53.

Peers on Argus

Peers in the office REIT space showed mixed, stock-specific moves, with names like PKST at -0.62% and BDN at -0.99%, while others such as PSTL and PGRE were slightly positive or flat. No broad sector momentum was flagged.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 24	Special distribution	Positive	+0.2%	Announced $4.10 per share special cash distribution and Thermo Fisher sale.
Aug 06	Special distribution	Positive	+1.1%	Declared $3.10 per share special cash distribution funded by portfolio activity.

Pattern Detected

Recent special cash distribution announcements have been followed by modest, positive price reactions, suggesting prior shareholder-friendly actions were absorbed constructively.

Recent Company History

Over recent months, Net Lease Office Properties has repeatedly returned capital via special cash distributions tied to portfolio activity. On Aug 6, 2025, it announced a $3.10 per share special distribution (~$45.9M), followed by another on Nov 24, 2025 of $4.10 per share (~$60.7M) connected to a $33.0M property sale. Both events saw small positive price reactions. Today’s new special distribution and additional asset sales continue that capital-return and portfolio repositioning trajectory.

Market Pulse Summary

This announcement detailed a special cash distribution of $5.10 per share, totaling about $75.6M, funded alongside $75.755M of gross proceeds from six office property sales. It continues NLOP’s recent pattern of capital returns tied to active portfolio repositioning. Investors may contextualize this against prior special distributions and the company’s recent 10-Q disclosures on revenue, net losses, impairments, and occupancy when evaluating sustainability of future payouts.

Key Terms

special cash distribution financial

"declared a special cash distribution of $5.10 per common share"

A special cash distribution is a one-time payment made to shareholders, separate from regular dividend payments, often representing a share of profits or assets. It acts like a bonus or extra reward, giving investors immediate cash instead of reinvesting in the company. This can be important to investors because it provides quick income and may signal changes in the company's financial situation.

annual base rent financial

"ABR (at time of sale) ($000s)"

Annual base rent is the fixed amount a tenant agrees to pay a landlord each year under a lease, excluding extra charges like utilities, taxes, or percentage rent. Think of it as the guaranteed subscription fee a building owner receives annually. Investors care because it provides the predictable portion of property income used to calculate cash flow, value and risk—similar to knowing a business’s steady subscription revenue before variable costs are added.

real estate investment trust financial

"is a publicly traded real estate investment trust that owns a portfolio"

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

net leased financial

"properties located in the U.S. and net leased to corporate tenants"

A net leased property is a real estate arrangement where the tenant not only pays rent but also covers some or all ongoing property costs like taxes, insurance, and maintenance. For investors this matters because it makes income more predictable and lowers the landlord’s operating expenses and risk—similar to renting a car where the renter also pays for fuel and upkeep, leaving the owner with steadier, more passive returns.

AI-generated analysis. Not financial advice.

Announces Sales of Six Office Properties for $76 Million

NEW YORK, Dec. 22, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) reported today that its Board of Trustees declared a special cash distribution of $5.10 per common share, totaling approximately $75.6 million. The distribution is payable on January 20, 2026 to shareholders of record as of the close of business on January 2, 2026.

The following properties were recently sold for gross proceeds totaling approximately $75.8 million.

Tenant	Tenant Industry	Location	ABR (at time of sale) ($000s)	Gross  Sale Proceeds ($000s)	Square Feet
Securitas Electronic, Security, Inc	Electronic Equipment & Instruments	Plymouth, MN	$1,218	$5,654	182,250
JPMorgan Chase Bank, N.A.	Diversified Banks	Tampa, FL	$1,934	$13,650	135,733
Vacant (formerly Master Lock Company, LLC)	N/A	Oak Creek, WI	$0	$2,576	120,883
Cohesity Inc.	Systems Software	Roseville, MN	$2,255	$14,625	136,125
Pioneer Credit Recovery, Inc.	Diversified Support Services	Moorestown, NJ	$931	$6,250	65,567
JPMorgan Chase Bank, N.A.	Diversified Banks	Fort Worth, TX	$4,850	$33,000	386,154
Total			$11,188	$75,755	1,026,712

 

For additional information on NLOP — including its latest quarterly report on Form 10-Q and related filings — please visit the company's website.

Net Lease Office Properties

Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust that owns a portfolio of high-quality, primarily single-tenant office properties located in the U.S. and net leased to corporate tenants operating across a variety of industries.

www.nloproperties.com

Institutional Investors:
1-212-492-1140
institutionalir@nloproperties.com

Individual Investors:
1-844-NLO REIT (656-7348)
ir@nloproperties.com

Press Contact:
Anna McGrath
1-212-492-1166

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SOURCE Net Lease Office Properties

FAQ

What is the special cash distribution declared by Net Lease Office Properties (NLOP)?

NLOP declared a $5.10 per share special cash distribution, totaling about $75.6 million.

When is the NLOP special distribution payable and who is eligible?

The distribution is payable on January 20, 2026 to shareholders of record as of the close of business on January 2, 2026.

How much did NLOP receive from the recent sale of six office properties?

Gross sale proceeds from the six properties totaled approximately $75.8 million.

What were the aggregate ABR and square footage for the six properties NLOP sold?

Aggregate ABR at time of sale was $11.188 million and total square footage was 1,026,712.

Which sold NLOP property generated the largest single sale amount in December 2025?

The Fort Worth property leased to JPMorgan Chase Bank generated the largest sale amount at $33.0 million.