Net Lease Office Properties filings document the company’s regulatory disclosures as a Maryland real estate investment trust with consolidated subsidiaries and a net-lease office property portfolio. Regulation FD 8-Ks furnish supplemental financial packages that include portfolio terms and definitions such as ABR and WALT, as well as non-GAAP measures including FFO, AFFO, pro rata cash NOI, and normalized pro rata cash NOI.
Other filings cover completed property dispositions, related pro forma consolidated financial information, proxy governance, trustee elections, auditor ratification, and shareholder voting matters. The disclosures also address the company’s adviser relationship with W. P. Carey Inc., capital structure, operating metrics, and governance processes for the REIT.
Net Lease Office Properties reported third-quarter 2026 supplemental results, with $5.902 million of consolidated revenues, including reimbursable costs, and a $649,000 net loss attributable to NLOP for the three months ended September 30, 2026. AFFO was $3.017 million and normalized pro rata cash NOI was $5.115 million; both are non-GAAP measures. On a pro rata basis, the portfolio had $21.915 million of ABR across 16 properties; occupancy was 68.9% and weighted-average lease term was 3.8 years as of September 30.
NLOP sold two properties during the quarter for $27.850 million in gross proceeds, including $20.0 million used to repay its final non-recourse mortgage loan in connection with a disposition. Consolidated debt was zero and cash was $30.635 million as of September 30. After quarter-end, the company sold one property for $6.579 million. In November, its board declared a special cash distribution of $1.50 per share, approximately $22.2 million total, payable December 1, 2026, to shareholders of record November 16, 2026.
Net Lease Office Properties (NLOP) reported $21.285 million in revenue for the nine months ended September 30, 2026, versus $88.171 million a year earlier, reflecting property dispositions and lower other lease-related income. It recorded $18.155 million of net income attributable to NLOP, compared with a $145.209 million loss, as lower impairment charges, larger gains on property sales and lower interest expense outweighed disposition-related revenue reductions and an $11.0 million non-cash credit-loss allowance. Net cash provided by operating activities was $10.677 million, down from $42.157 million.
NLOP sold eight properties for $154.4 million of proceeds net of selling costs during the nine-month period, and had 16 properties, nine tenants and 68.9% occupancy at September 30, 2026. It repaid its final non-recourse mortgage on August 31, 2026; the loan had $21.9 million outstanding at December 31, 2025. On November 4, 2026, NLOP declared a $1.50-per-share special cash distribution, approximately $22.2 million total, payable December 1, 2026, to holders of record November 16, 2026. A July 2026 amendment extended four Grande Communications leases to 2041 while reducing ABR from $2.2 million to $1.8 million.
For Net Lease Office Properties (NLOP), Vanguard Capital Management reported beneficial ownership of 737,613 common shares, equal to 4.97% of the class. It reported sole voting power over 100,059 shares and sole dispositive power over 737,613 shares, with zero shared voting or dispositive power.
Net Lease Office Properties, a net-lease office REIT, released unaudited supplemental data for the quarter ended June 30, 2026. Revenue was $6.36 million, with a net loss attributable to NLOP of $6.19 million, or $0.42 per share, driven largely by $7.09 million of real-estate impairment. Normalized pro rata cash NOI was $5.73 million, while AFFO totaled $3.25 million, or $0.22 per share.
The portfolio now comprises 18 properties and 10 tenants, generating annualized base rent of $24.76 million, with occupancy at 68.4% and a weighted-average lease term of 2.7 years; 593,227 square feet are vacant. About 50.3% of ABR comes from tenants or guarantors with investment-grade credit.
Leverage is low, with total consolidated debt of $21.9 million versus gross assets of $265.96 million and cash and cash equivalents of $23.66 million. Since formation, asset sales have produced $812.51 million of gross proceeds, supporting cumulative shareholder distributions of $336.07 million, or $22.69 per share. A $21.9 million non-recourse mortgage on the Intuit property matured on July 6, 2026 and has not been repaid; it now accrues 5.0% default interest in addition to the 7.0% base rate, and the lender may commence foreclosure. Effective July 1, 2026, the annual administrative reimbursement to the external advisor was reduced from approximately $4.0 million to $2.0 million.
Net Lease Office Properties reported $6.4 million in Q2 2026 revenue and a net loss attributable to NLOP of $6.2 million, while six‑month revenue was $15.4 million and net income $18.8 million, driven largely by property sales and lower impairment and interest expenses.
Total assets fell to $200.9 million at June 30, 2026 from $453.4 million at year‑end 2025, and shareholders’ equity declined to $163.8 million after $224.4 million of special cash distributions year‑to‑date. Since January 1, 2025 the company has sold 21 properties for $340.3 million, including six in the first half of 2026 for $128.0 million of proceeds and $33.2 million of gains. As of June 30, 2026 the portfolio comprised 18 properties with annualized base rent of $24.8 million, occupancy of 68.4%, 31.6% of square footage vacant, and a weighted‑average lease term of 2.7 years. Debt now consists of a single $21.9 million non‑recourse mortgage at 7.0% interest that was not repaid at its July 6, 2026 maturity, is accruing an additional 5.0% default interest, and is secured by a property that is vacant as of the report date.
Vanguard Capital Management filed an amended beneficial ownership report for NET Lease Office Properties, disclosing passive ownership of the company’s common stock. Vanguard reports beneficial ownership of 754,679 shares, representing 5.09% of the class as of June 30, 2026.
Vanguard has sole voting power over 99,979 shares and sole dispositive power over 754,679 shares, with no shared voting or dispositive power. The position aggregates holdings managed by Vanguard Capital Management LLC and certain affiliated entities and funds, while excluding other Vanguard affiliates whose ownership is disaggregated.
Net Lease Office Properties held its reconvened annual shareholder meeting on June 25, 2026, where investors voted on board elections and key proposals. Two Class II trustees, John J. Park and Richard J. Pinola, were elected for one-year terms ending at the 2027 annual meeting.
On the April 13, 2026 record date, 14,814,075 common shares were outstanding and entitled to vote. Shareholders also approved the Termination Authority Proposal and ratified PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026.
Net Lease Office Properties reported that its 2026 Annual Meeting of Shareholders, convened on June 12, 2026, was immediately adjourned without any business being conducted to allow more time to solicit shareholder proxies. The meeting will reconvene virtually on June 25, 2026 at 9:30 a.m. Eastern Time.
The record date remains April 13, 2026, meaning shareholders of record on that date are entitled to vote at the reconvened meeting. Proxies already submitted will be voted unless revoked. The Board of Trustees unanimously recommends that shareholders vote “FOR” all proposals described in the proxy statement filed on April 16, 2026.
Net Lease Office Properties furnished supplemental information for the quarter ended March 31, 2026, highlighting continued execution of its disposition-focused strategy. The company generated revenues of $9.0 million and net income attributable to NLOP of $25.0 million, or $1.69 per diluted share, largely driven by a $32.6 million gain on sale of real estate.
FFO as defined by NAREIT was $(5.4) million, while AFFO was $6.1 million, or $0.41 per diluted share, after adjusting for non‑cash and non-core items including an $11.0 million non‑cash credit loss allowance. During the quarter, NLOP closed $153.4 million of property dispositions and declared special cash distributions totaling $148.9 million, or $10.05 per share. The portfolio now comprises 18 properties with ABR of $25.8 million, occupancy of 73.1%, and a weighted-average lease term of 2.9 years. Leverage remains low with $21.9 million of non‑recourse mortgage debt against gross assets of $321.5 million and cash and cash equivalents of $70.6 million.
Net Lease Office Properties reported first-quarter 2026 net income attributable to NLOP of $24.998 million, or $1.69 per share, up from $0.492 million a year earlier, mainly from a $32.6 million gain on property sales. Total revenues fell to $9.0 million from $29.2 million as the company sold assets and its portfolio shrank.
During the quarter NLOP sold six properties for net proceeds of $127.5 million, contributing to a portfolio of 18 properties with $25.8 million in annualized base rent, 73.1% occupancy, and a 2.9-year weighted-average lease term. Funds from operations turned negative at $(5.4) million, and AFFO declined to $6.1 million, reflecting lower rental income and a non-cash credit loss allowance.
NLOP paid sizable special cash distributions, including $6.75 and $3.30 per share declared in January and March 2026, totaling about $149 million this quarter. At March 31, 2026, the company held $70.6 million of cash and a single non-recourse mortgage of $21.9 million at a 7.0% rate maturing in July 2026. The board later approved cutting the annual base administrative reimbursement to its external advisor from $4.0 million to $2.0 million, effective July 1, 2026.