Logotype for Net Lease Office Properties

Net Lease Office Properties (NLOP) investor relations material

Net Lease Office Properties Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Net Lease Office Properties
Q2 2025 earnings summary6 Aug, 2025

Executive summary

  • Completed three property sales for $25.4 million in the first half of 2025, plus a July sale for $25.2 million.

  • Fully repaid the $61.1 million NLOP Mezzanine Loan using proceeds from dispositions and operations.

  • Special cash distribution of $3.10 per share, totaling $45.9 million, declared in August 2025, payable in September.

  • Operates as a net lease office REIT with 36 properties and 39 tenants, 88.1% occupancy, and a weighted-average lease term of 4.0 years.

  • Report covers the second quarter ended June 30, 2025, with unaudited supplemental financial information disclosed.

Financial highlights

  • Total revenues for Q2 2025 were $29.2 million; normalized pro rata cash NOI was $20.4 million.

  • Net loss attributable to shareholders was $81.5 million, or $(5.50) per diluted share, primarily due to an $81.6 million impairment charge on a Houston property.

  • FFO for Q2 2025 was $13.2 million, or $0.89 per diluted share; AFFO was $16.9 million, or $1.14 per diluted share.

  • Operating cash flow for the first half of 2025 was $25.8 million, down from $41.1 million in 2024.

  • Equity market capitalization: $482.2 million; total enterprise value: $545.2 million.

Outlook and guidance

  • Future special distributions will depend on operating results, liquidity, rental income, asset sales, and other factors.

  • Management expects to meet cash requirements through operations and property sales but notes potential risks from higher refinancing rates or cash flow disruptions.

  • Portfolio remains focused on investment grade tenants (44% of ABR), with ongoing property dispositions and lease renewals.

  • Subsequent to quarter end, one property was sold for $25.2 million.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Net Lease Office Properties earnings date

Logotype for Net Lease Office Properties
Q3 202510 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Net Lease Office Properties earnings date

Logotype for Net Lease Office Properties
Q3 202510 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Net Lease Office Properties is a publicly traded real estate investment trust (REIT) specializing in the ownership and management of high-quality office properties. These properties are primarily located in the United States, with some assets in Europe, and are leased mainly to corporate tenants on a single-tenant net lease basis. NLOP focuses on strategic asset management and aims to generate value for shareholders through the efficient operation and eventual disposition of its properties. The company is headquartered in New York, NY, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage