[8-K] Net Lease Office Properties Reports Material Event

Rhea-AI Filing Summary

Net Lease Office Properties completed the sale of a large office asset in Houston, Texas. On January 15, 2026, the company disposed of a 1,064,788 square foot office building leased to KBR, Inc. to an unaffiliated third party for a contractual sales price of $66.0 million, generating net proceeds of approximately $65.4 million. This transaction reduces the company’s exposure to that single property and tenant while adding cash to its balance sheet.

The company also provided unaudited pro forma consolidated financial information as Exhibit 99.1, covering the year ended December 31, 2024 and the nine months ended September 30, 2025, to help investors see how its financials would look after this disposition.

Insights

Real estate and REIT analyst

NLOP sells a major Houston office asset for $66M, reshaping its portfolio mix.

Net Lease Office Properties sold a 1,064,788 square foot Houston office building leased to KBR, Inc. for a contractual sales price of $66.0 million, with net proceeds of about $65.4 million. This removes a single large asset and tenant exposure from the portfolio, which may change rental income and geographic concentration.

The buyer is described as an unaffiliated third party, indicating a straightforward arm’s-length transaction. Because detailed income contribution from this asset is not included in the excerpt, the immediate impact on revenue and funds from operations is not quantified here.

The company attached unaudited pro forma consolidated financial information for the year ended December 31, 2024 and for the nine months ended September 30, 2025 as Exhibit 99.1. Those pro formas show how key metrics would have looked without this property, giving investors a clearer view of the go-forward financial profile after the disposition.

8-K Event Classification

2 items: 2.01, 9.01

2 items

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 20, 2026 (January 15, 2026)

Net Lease Office Properties

(Exact Name of Registrant as Specified in its Charter)

Maryland						001-41812			92-0887849
(State or other jurisdiction of incorporation)						(Commission File Number)			(IRS Employer Identification No.)
One Manhattan West, 395 9th Avenue, 58th Floor
New York,			New York						10001
(Address of principal executive offices)									(Zip Code)

Registrant’s telephone number, including area code: (844) 656-7348

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares of Beneficial Interest, par value $0.001 per share

NLOP

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.01 — Completion of Acquisition or Disposition of Assets.

On January 15, 2026, Net Lease Office Properties completed the disposition of a 1,064,788 square foot office building leased to KBR, Inc. in Houston, Texas, to an unaffiliated third party for a contractual sales price of $66.0 million and net proceeds of approximately $65.4 million.

Item 9.01 — Financial Statements and Exhibits.

(a) N/A

(b) Pro forma financial information.

The pro forma financial information required pursuant to Article 11 of Regulation S-X is attached as Exhibit 99.1 hereto and is incorporated by reference herein.

(c) N/A

(d) Exhibits

Exhibit No.						Description
99.1						Unaudited pro forma consolidated financial information for Net Lease Office Properties for the year ended December 31, 2024 and as of and for the nine months ended September 30, 2025
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.

									Net Lease Office Properties
Date:			January 20, 2026			By:			/s/ ToniAnn Sanzone
									ToniAnn Sanzone
									Chief Financial Officer